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Trump Announces Major Oil Extraction from Venezuela, Signals Cuba Policy Shift
President Donald Trump declared Saturday that the United States is extracting “tremendous amounts of oil” from Venezuela while suggesting an imminent policy shift regarding Cuba’s communist regime.
Speaking at the Shield of the Americas Summit in Florida, Trump outlined his administration’s work with Venezuela’s new government following the January operation to capture former dictator Nicolás Maduro. The president noted that his administration has been “working closely with the new president of Venezuela, Delcy Rodriguez,” adding, “she’s doing a great job working with us.”
“We’re taking out tremendous amounts of oil. They’re making more money now than they’ve ever made, ever made,” Trump stated. “We have the big oil companies in. They’re getting a lot. They’re making more money now than they’ve ever made in the history of their country.”
The remarks came as the Trump administration formalized its recognition of Venezuela’s new government. Trump also announced what he called a “historic gold deal” with Venezuela, describing a license issued Friday by the Treasury Department that prohibits entities from Iran, North Korea, Russia and Cuba from doing business with Minerven, Venezuela’s state-owned gold mining company.
The Venezuelan developments represent a significant shift in regional geopolitics, potentially creating a new source of oil supply for American markets at a time when global energy security remains a priority for the administration.
During his address, Trump pivoted to Cuba, suggesting the communist island nation is approaching a breaking point. “As we achieve a historic transformation in Venezuela, we’re also looking forward to the great change that will soon be coming to Cuba. Cuba’s at the end of the line,” he declared.
The president highlighted Cuba’s economic vulnerability, particularly its loss of Venezuelan support. “They have no money, they have no oil. They have a bad philosophy. They have a bad regime that’s been bad for a long time. And they used to get the money from Venezuela. They get the oil from Venezuela, but they don’t have any money from Venezuela. They don’t have any oil,” Trump said.
The remarks follow Trump’s January executive order declaring a national emergency regarding Cuba, which accused the regime of collaborating with hostile foreign powers and terrorist groups. The order also moved to punish countries supplying oil to the island nation, exacerbating Cuba’s ongoing energy crisis that has left millions without power.
Trump revealed that negotiations with Cuba are already underway, mentioning that Secretary of State Marco Rubio is involved in discussions. “I would think a deal would be made very easily with Cuba,” Trump said, adding that the country is “in its last moments of life as it was. It’ll have a great new life, but it’s in its last moments of life, the way it is.”
The State Department described the Shield of the Americas Summit as a gathering of the “strongest likeminded allies in our hemisphere to promote freedom, security, and prosperity in our region.” The summit, held in Doral, Florida, brought together leaders from multiple Latin American nations, including Dominican Republic President Luis Abinader, Argentina’s President Javier Milei, and El Salvador’s President Nayib Bukele.
Trump mentioned that several leaders at the summit had privately asked him to address the Cuban situation. “Four of you said, actually, ‘could you do us a favor? Take care of Cuba.’ I’ll take care of it, okay?” Trump said to applause.
The president noted that while the administration’s “focus right now is on Iran,” he is prepared to shift attention to Cuba—a move that could significantly reshape U.S. policy toward the island nation that has endured decades of tensions with Washington.
The developments in Venezuela and potential policy changes regarding Cuba represent a continued emphasis on regional diplomacy in the Western Hemisphere, with energy resources and political alliances central to the administration’s approach.
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12 Comments
The prospect of ‘tremendous amounts of oil’ being extracted from Venezuela is noteworthy, though the political and economic stability required for such a venture remains uncertain. Rigorous oversight will be crucial.
The potential for increased oil extraction in Venezuela could be a significant development, though the political and economic situation there remains volatile. Careful management will be needed.
Absolutely, Venezuela’s oil industry has faced major challenges in recent years. Stability and transparency will be key to successfully ramping up production.
Trump’s comments signal an assertive policy shift in the region. However, the reality on the ground in Venezuela and Cuba remains highly complex. Careful diplomacy and pragmatism will be essential.
A ‘historic gold deal’ with Venezuela is an interesting twist. I wonder what the details and implications of that agreement might be. It will be worth following the developments closely.
Yes, the gold deal is intriguing. The specifics and potential impacts on Venezuela’s economy and global financial flows will be important to understand.
Increased US involvement in Venezuela’s oil industry and a potential policy shift on Cuba raise questions about Washington’s broader goals in the region. Transparency and multilateral coordination will be important going forward.
While the Trump administration’s announcements on Venezuela and Cuba may appeal to certain domestic political constituencies, the real-world impacts remain to be seen. Careful analysis of the policy details and on-the-ground realities will be key.
Trump’s statements suggest a more assertive US posture in the region, particularly regarding Venezuela’s oil and Cuba’s political system. However, the complexities of these situations demand a thoughtful, multilateral approach.
The focus on Venezuela’s oil reserves and Cuba’s political system suggests the administration views these as strategic priorities. It will be crucial to monitor how these policies are implemented and their broader regional implications.
Interesting to see Trump’s focus shifting to Venezuela’s oil reserves and Cuba’s communist regime. It will be important to monitor how these policy changes unfold and their impact on the region.
I agree, the geopolitical dynamics in this area are complex. Careful diplomacy and consideration of all stakeholders will be crucial.