US President Trump Cancels Planned Attacks on Venezuela After Diplomatic Cooperation

US President Donald Trump Announces Cancellation of Second Wave of Attacks on Venezuela, Plans to Meet with Oil Executives at White House

In a statement released on Friday, US President Donald Trump announced that he has cancelled a second wave of attacks on Venezuela following the country’s release of a large number of political prisoners. The president stated that this gesture is a sign of “seeking peace” and expressed his satisfaction with the cooperation between the US and Venezuela.

Trump also indicated that Venezuelan opposition leader Maria Corina Machado will be visiting Washington next week, contrary to previous statements where he dismissed the idea of working with her. Additionally, Trump announced plans to meet with oil executives at the White House on Friday, stating that they will invest at least $100 billion in Venezuela’s oil industry.

The US administration has repeatedly stated its intention to exert control over Venezuela’s oil industry, with Energy Secretary Chris Wright asserting that Washington will maintain control “indefinitely”. The state-run oil firm has confirmed negotiations with the US on oil sales. The meeting with oil executives is expected to discuss the potential investment opportunities in Venezuela.

According to reports, the heads of Exxon Mobil, Chevron, and ConocoPhillips are scheduled to attend the White House gathering. Trump’s spokesperson described the meeting as a discussion about “the immense opportunity that is before these oil companies right now”. The US has imposed sanctions on Venezuela since 2019, which has significantly impacted the country’s oil production.

The US sees Venezuela’s massive oil reserves as a potential solution to lower domestic fuel prices. However, convincing major US oil companies to invest in Venezuela may be challenging due to concerns about governance, security, and the cost of restoring production facilities.

Source: Al Jazeera