Cyprus Times

Trump to Allow US Oil Companies to Invest in Venezuela Despite Embargo

Published January 4, 2026, 09:12
Trump to Allow US Oil Companies to Invest in Venezuela Despite Embargo

Donald Trump announced that he will allow US oil companies to invest in Venezuela and exploit the country's vast oil reserves, which account for 17% of global reserves. However, he emphasized that the US embargo on Venezuelan oil remains in place, following the recent military operation against Nicolas Maduro. Trump believes the investments will generate billions of dollars in revenue for the US, while Venezuela is facing an economic crisis due to mismanagement and corruption.