BAKU, Azerbaijan, January 10. US President Donald Trump announced that American oil companies will invest at least 100 billion dollars in Venezuela and that the United States will ensure their security, Trend reports.
Trump emphasized that “our giant oil companies will spend at least 100 billion dollars of their own money, not government money. They don’t need government money, but they do need government protection. They need the government to ensure their safety,” according to his statement on social media platform Truth Social.
He also said the companies plan to use these funds to restore electricity and essential infrastructure in Venezuela, and the United States will support their security efforts in the country.
The announcement comes as the Trump administration seeks to rebuild Venezuela’s oil and gas sector following recent developments in U.S.–Venezuela relations.