During a meeting on Friday with oil executives, Trump tried to assuage the concerns of the companies and said they would be dealing directly with the US, rather than the Venezuelan government.
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Some, however, weren’t convinced.“If we look at the commercial constructs and frameworks in place today in Venezuela, today it’s uninvestable,” said Darren Woods, CEO of ExxonMobil, the largest US oil company.
Also on Friday, Trump signed an executive order that seeks to ensure that Venezuelan oil revenue remains protected from being used in judicial proceedings.
The executive order, made public on Saturday, says that if the funds were to be seized for such use, it could “undermine critical US efforts to ensure economic and political stability in Venezuela.” Venezuela has a history of state asset seizures, ongoing US sanctions and decades of political uncertainty.
Getting US oil companies to invest in Venezuela and help rebuild the country’s infrastructure is a top priority of the Trump administration after Maduro’s capture.
The White House is framing the effort to “run” Venezuela in economic terms, and Trump has seized tankers carrying Venezuelan oil, has said the US is taking over the sales of 30 million to 50 million barrels of previously sanctioned Venezuelan crude, and plans to control sales worldwide indefinitely.
(Edited by : Juviraj Anchil)
