In a significant move with major geopolitical implications, the United States has declared its intention to maintain control over Venezuela's crucial oil industry for an indefinite period.
"Indefinite" Control Declared at Miami Conference
The stark announcement was made by United States Energy Secretary Chris Wright on 7 January 2026. Speaking at a Goldman Sachs energy conference near Miami, Wright stated the US plans to keep a firm grip on Venezuela's oil sector, including overseeing the sale of the country's entire production. He explicitly used the term "indefinitely", confirming no end date or timetable has been established for this unprecedented level of foreign control over a nation's primary resource.
"Going forward we will sell the production that comes out of Venezuela into the marketplace," Wright told the conference audience, outlining a direct role for US authorities in the commercial fate of Venezuelan crude.
Following Trump's Earlier Claim on Oil Barrels
This declaration from the top US energy official follows a recent claim from former President Donald Trump, who stated that Venezuela would soon be compelled to hand over "tens of millions of barrels of oil" to the United States. Wright's remarks appear to formalise and expand upon that earlier assertion, moving from a one-off transfer to a policy of sustained management.
The move represents a dramatic escalation in the long-standing economic and political pressure applied by Washington on the South American nation. Control of Venezuela's vast oil wealth, which accounts for nearly all of its export earnings, effectively places the country's economic levers in US hands.
Implications for Global Energy and Diplomacy
The policy of indefinite US control over Venezuela's oil sales is set to have profound consequences. It will directly impact global energy markets by dictating the flow of a significant source of crude. Furthermore, it raises serious questions about national sovereignty and the norms of international relations, likely drawing criticism from other global powers.
For Venezuela, already grappling with severe economic hardship, this development signifies a deepening of its crisis, with its main revenue stream now under foreign administration. The announcement solidifies the Trump administration's hardline approach, marking a new chapter in the contentious relationship between the two nations.
