U.S. Imposes Oil Deadline on Venezuela, Threatening Financial Collapse

The Trump administration has told Venezuelan interim President Delcy Rodriguez that her government must meet U.S. demands before it can resume pumping additional oil, including severing economic ties with China, Cuba, and Russia.

Venezuela also would be required to partner exclusively with the United States on oil production and give preference to U.S. buyers when selling its heavy crude, according to three sources familiar with the administration’s plan.

Secretary of State Marco Rubio told lawmakers during a private briefing Monday that he believes the U.S. can force Venezuela’s compliance because the country’s existing oil tankers are already full. The United States also maintains a Caribbean blockade preventing any sanctioned oil tankers from leaving or entering Venezuela.

Rubio added that the U.S. estimates Caracas has only a couple of weeks before it would become financially insolvent without the ability to sell its oil reserves.

Senate Armed Services Committee Chair Roger Wicker, R-Miss., stated the plan hinges on U.S. control of Venezuela’s oil assets and emphasized no American troops would be deployed. “The government does intend to control the oil, taking charge of the ships, the tankers, and none of them are going to go to Havana,” Wicker said. “And until they start moving – we hope to the open market – there are no more tankers to fill because they’re totally full.”

The White House did not dispute the reporting.

A senior administration official told reporters that President Trump is speaking about “exerting maximum leverage with the remaining elements in Venezuela and ensuring they cooperate with the United States by halting illegal migration, stopping drug flows, revitalizing oil infrastructure and doing what is right for the Venezuelan people.”

On Truth Social Tuesday night, Trump announced that the “interim authorities” in Venezuela would turn over between 30 million and 50 million barrels of oil to the United States to be sold at market price. Based on current prices, that oil would be worth roughly $1.7 billion to $3.1 billion.

Trump stated the proceeds would be controlled by him “to ensure it is used to benefit the people of Venezuela and the United States.”