News

The United States will keep control of Venezuelan oil seized by American authorities, US President Donald Trump said on Monday, signalling a tougher stance against the government in Caracas as Washington intensifies pressure through sanctions and maritime enforcement.

Speaking to reporters at a news conference at Mar-a-Lago, Trump made it clear that the crude would not be returned to Venezuela and that the administration was still weighing its next steps.

“We're going to keep it,” Trump said when asked what the US planned to do with the confiscated oil, foreign media reported.

While the administration has not yet decided whether the oil will be sold or used domestically, Trump emphasised that Washington would maintain control over the shipment. “Maybe we'll sell it, maybe we'll keep it, maybe we'll use it in the strategic reserves,” he said. “We're keeping it.”

The comments underscore the administration’s intent to use seized assets as leverage as it continues to enforce sanctions against Venezuela’s oil sector.

Also Read: 7 key takeaways from US President Donald Trump's year-end address to the nation

Trump also confirmed that he has spoken with major American oil companies about Venezuela and potential developments in the country’s energy sector, though he stopped short of outlining any specific plans.

“I have — all the big ones, yeah, I have,” Trump said when asked if he had spoken with major oil firms about Venezuela. He did not clarify whether US companies could eventually resume or expand operations linked to Venezuelan oil production.

Also Read: US trade deficit hits lowest since 2020, Trump tariff fuel export and job growth: White House

The seizure comes amid ongoing US sanctions aimed at Venezuela’s oil industry, which Washington has long viewed as a key pressure point against the Maduro government. US authorities have previously targeted oil shipments and intermediaries accused of evading restrictions.

Trump has repeatedly argued that economic pressure and strict enforcement are necessary to counter what he describes as corruption and mismanagement in Venezuela, while safeguarding US strategic interests. US forces on Saturday stopped an oil tanker off the coast of Venezuela for the second time in less than two weeks, as the Trump administration ramps up pressure on Venezuelan President Nicolás Maduro.