By Anthony Marcus for Eurasia Business News, January 7, 2025. Article n°1976
The administration of US President Donald Trump demanded a complete severance of economic ties with China, Russia, Iran and Cuba, as well as an agreement to an exclusive partnership with the United States with the priority of selling heavy oil to American companies. This is reported by ABC News, citing sources.
According to Senator Roger Wicker, the US plan is based on the control of Venezuelan oil tankers, which are now fully filled. He noted that Caracas has only a few weeks left before financial collapse if exports are not resumed.
“We are not talking about deploying troops on the ground… This is simply not part of our plans,” he said. According to him, the strategy involves a naval blockade and economic pressure.
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President Trump has already stated that the Venezuelan interim authorities will transfer 30 to 50 million barrels of oil to the United States for sale, and the proceeds will be under Washington’s control “for the benefit of the people of Venezuela and the United States.”
Venezuela has the world’s largest proven crude oil reserves, at roughly 303 billion barrels, equal to about 17–20% of global reserves. These reserves are largely extra‑heavy crude concentrated in the Orinoco Belt, which makes extraction and processing more complex and capital‑intensive than many Middle Eastern light crudes. However, the U.S. oil extraction companies have the technology and the funds to extract this extra‑heavy crude.
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© Copyright 2025 – Eurasia Business News. Article no. 1976
Eurasia Business News 