Uncertainty in Venezuela after Maduro’s capture, what Trump has to say

(ASSOCIATED PRESS) — President Donald Trump’s administration on Wednesday sought to assert its control over Venezuelan oil, seizing a pair of sanctioned tankers transporting petroleum and announcing plans to relax some sanctions so the U.S. can oversee the sale of Venezuela’s petroleum worldwide.

Trump’s administration intends to control the distribution of Venezuela’s oil products globally following its ouster of President Nicolás Maduro in a surprise nighttime raid. Besides the United States enforcing an existing oil embargo, the Energy Department says the “only oil transported in and out of Venezuela” will be through approved channels consistent with U.S. law and national security interests.

That level of control over the world’s largest proven reserves of crude oil could give the Trump administration a broader hold on oil supplies globally in ways that could enable it to influence prices. Both moves reflect the Republican administration’s determination to make good on its effort to control the next steps in Venezuela through its vast oil resources after Trump has pledged the U.S. will “run” the country.

Secretary of State Marco Rubio suggested that the oil taken from the sanctioned vessels seized in the North Atlantic and the Caribbean Sea would be sold as part of the deal announced by Trump on Tuesday under which Venezuela would provide up to 50 million barrels of oil to the U.S.

“One of those ships that was seized that had oil in the Caribbean, you know what the interim authorities are asking for in Venezuela?” Rubio told reporters after briefing lawmakers Wednesday about the Maduro operation.

“They want that oil that was seized to be part of this deal. They understand that the only way they can move oil and generate revenue and not have economic collapse is if they cooperate and work with the United States,” he said.

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