Is the US unlocking Venezuela’s oil wealth or exploiting it?

Al JazeeraCenterEN 1 min read 100% complete January 9, 2026 at 06:00 PM

AI Summary

short article 1 min

In January 2026, the United States announced plans to control the sales and revenue of Venezuelan oil "indefinitely," following the abduction of President Nicolas Maduro. President Trump aims to revive Venezuela's oil sector by encouraging billions of dollars in investment from US companies. The US government claims this will benefit both the Venezuelan and American people. However, critics are denouncing the move as modern-day colonialism and a direct grab for Venezuela's energy resources, which are the largest oil reserves in the world. The situation has created a high-stakes economic power play with global ramifications for energy supply. The article also addresses Iran's economic crisis.

Key Entities & Roles

Key Player Opposition Context

Iran 40% Washington 50% Nicolás Maduro (Maduro) 70% Donald Trump ×290% United States ×290% Venezuela ×4100%

Keywords

venezuela 100% oil industry 90% united states 80% energy supply 70% economic power play 70% oil reserves 60% modern-day colonialism 60% nicolas maduro 50% iran 40% economic crisis 40%