Trump allows US oil firms into Venezuela after Maduro’s arrest

January 03, 2026 / 11:30 PM

Trump during the press conference

Sharjah 24 – AFP: President Donald Trump announced on Saturday that American oil companies will be allowed to enter Venezuela to exploit its massive crude oil reserves, following a US military operation that led to the seizure of Venezuelan leader Nicolas Maduro.

Trump’s comments on oil infrastructure

"We're going to have our very large United States oil companies, the biggest anywhere in the world, go in, spend billions of dollars, fix the badly broken infrastructure, the oil infrastructure, and start making money for the country," Trump told a press conference.

Embargo remains in place

Trump clarified that "the embargo on all Venezuelan oil remains in full effect."

Military pressure and seizures

As part of a weeks-long military pressure campaign against Venezuela before the raid, US forces seized at least two oil tankers that Washington said were subject to US sanctions.

Warning to Venezuelan officials

Trump also warned other political and military figures in Venezuela, saying, "what happened to Maduro can happen to them."

Context of US sanctions

Venezuela has been under US oil sanctions since 2019. The country produces about one million barrels of crude per day, selling most on the black market at steep discounts. Trump claims Caracas is using oil revenues to finance "drug terrorism, human trafficking, murder and kidnapping."