Trump Halts Venezuela Attack Amid New Oil Talks

President Donald Trump has announced that a second wave of U.S. military strikes against Venezuela has been canceled, citing cooperation from the country on its oil and gas infrastructure.

In a statement posted on social media, Trump confirmed that the "previously expected" new attacks were called off because they no longer appear necessary. He described a positive working relationship developing between the two nations.

"The U.S.A. and Venezuela are working well together, especially as it pertains to rebuilding, in a much bigger, better, and more modern form, their oil and gas infrastructure," Trump wrote.

However, the president noted that for now, oil tankers in Venezuela will "stay in place for safety and security purposes."

A $100 Billion Investment on the Horizon

A central part of the emerging cooperation involves significant investment in Venezuela's vast oil reserves. According to Trump, major oil companies are set to invest "at least" $100 billion.

To advance these plans, Trump is scheduled to meet with executives from many of these firms at the White House on Friday. NBC News reported that the heads of Chevron, Exxon Mobil, and ConocoPhillips are expected to attend the high-stakes meeting.

This development follows a U.S. military operation last weekend that resulted in the capture of Venezuela's long-time leader, Nicolas Maduro. Controlling the country's oil has been a stated priority for the Trump administration.

Navigating Political and Economic Realities

Earlier this week, President Trump stated that Caracas had agreed to send 50 million barrels of oil to the United States. Despite this, the Financial Times has reported that oil companies are seeking "serious guarantees" before committing to massive investments in the nation.

Venezuela is home to roughly 20% of the world's known oil reserves, but its production capacity has been severely hampered by depleted domestic infrastructure and years of U.S. sanctions on its oil exports.

Even with Maduro's capture, the political situation remains complex. Interim President Delcy Rodriguez has asserted that the Venezuelan government is still in control of the country. Meanwhile, Venezuela's state-owned oil company has confirmed it is in discussions with the Trump administration regarding oil sales.