🔗 Share this article Trump Signals Caracas Is Yielding to Calls for ‘Full Access’ for American Oil Companies. Former President Donald Trump has declared that Venezuela will be “handing over” an estimated $2 billion worth of crude oil from Venezuela to the United States. This key deal would reroute cargoes originally destined for China while assisting Venezuela avoid further oil production cuts. “This Oil will be sold at its Market Price, and that revenue will be overseen by me, as President of the United States of America, to guarantee it is used to benefit the people of Venezuela and the United States!” Trump stated in an online post. Officials in Caracas and the state-owned firm PDVSA have not commented on the alleged agreement. Context: A Blockade and a Capture Venezuela currently has millions of barrels of oil loaded on tankers and in storage tanks that it has been prevented from shipping due to a naval blockade imposed by the Trump administration. This pressure campaign ended with the toppling of Nicolás Maduro, who was apprehended by United States troops over the recent weekend. While high-ranking Venezuelan officials have called Maduro’s capture a illegal seizure and alleged the US of seeking to take the country’s immense oil reserves, Tuesday’s declaration is seen as a clear indicator that the remaining government is bowing to Trump’s requirement to grant access to US oil companies or be threatened with additional military incursion. Another Goal: The Pursuit of Greenland Meanwhile, Trump and his team have stated they are “examining” a “range of options” in an effort to take control of Greenland. A presidential statement on Tuesday noted that using the US military to do so is “remains a possibility”. “President Trump has made it well known that obtaining Greenland is a key national security objective of the United States, and it’s essential to deter our opponents in the Arctic region,” said White House press secretary Karoline Leavitt. “The president and his team are considering a series of options to accomplish this critical foreign policy goal, and of course, using the US military is always an option at the commander-in-chief’s discretion.” Leavitt’s comments came as the top officials of major European powers voiced resistance against Trump’s long-running desire to take over the Arctic territory. Additional Major Updates Family Assistance Blocked: The Trump administration is freezing more than $10 billion in federal childcare and family assistance funds to five major states. The Department of Health and Human Services (HHS) cited issues regarding fraud and misuse. Epstein Files Withheld: The Department of Justice has released a tiny fraction of the much-discussed Epstein files, a court filing has disclosed. Democrats have escalated criticism of the administration’s “unlawful actions” for sealing the files. ICE Surge in Minnesota: The administration has sent more immigration agents to Minnesota, in an extension of increasing rhetoric against the state and its immigrant populations. Immigration officials called it the agency’s “biggest-ever operation”. PM’s Strong Rebuke: Greenland’s Prime Minister, Jens-Frederik Nielsen, urged Trump to abandon his “notions of seizing” Greenland and accused the US of “completely and utterly unacceptable” rhetoric. The Prime Minister of Denmark, Mette Frederiksen, previously warned that a US attack on a NATO ally would mean the “collapse” of the military alliance. Law Enforcement Priorities Shifted: Democratic senators claimed in a letter that the Trump administration has abandoned efforts to combat child exploitation, human trafficking, and cartels as it redirects thousands of law enforcement personnel to Immigration and Customs Enforcement (ICE). Market Reaction The implications of the US intervention in Venezuela sent tremors through the markets. The price of oil fell after Trump’s announcement, with traders anticipating more supply hitting the market. West Texas Intermediate fell by more than 1.5 percent, while the international benchmark, Brent crude, also dropped. Criticism from Lawmakers The idea of an invasion against Greenland encountered swift cross-party opposition from US legislators. Democrat Senator Ruben Gallego vowed to introduce a resolution to block such a move. Republican House Speaker Mike Johnson said he did not think military action was “appropriate”, and other Republican senators warned it could lead to the “demise” of NATO. The international diplomatic context remains uncertain, with the US at once involved in significant confrontations in Venezuela and the Arctic while implementing contentious domestic policy shifts.