On January 31 (US time), US President Donald Trump said he welcomed China's investment in Venezuela's oil and gas industry, in the context that this South American nation is seeking to recover its economy after President Nicolas Maduro was arrested.
Speaking to reporters on Air Force One, Mr. Trump emphasized that China is "welcomed" to participate and may reach major oil deals in Venezuela.
Venezuela possesses the world's largest proven oil reserves and has just implemented legal reforms to open the energy sector to private and foreign investment.
Previously, China was a key oil buyer of Venezuela under Mr. Nicolas Maduro. However, Mr. Maduro's arrest by US forces on January 3 faced criticism from the Chinese Ministry of Foreign Affairs and made the future of Beijing - Caracas relations uncertain.
Mr. Trump said the US "is in control" of the situation in Venezuela and affirmed that Washington has good relations with the new leadership here. According to him, the US and Venezuela will share profits from oil, in which both sides benefit. Mr. Trump said that the upcoming oil exploitation and sales will bring in greater revenue for Venezuela than before.
The US President also mentioned that Ms. Delcy Rodriguez, interim President of Venezuela, has reached an energy cooperation agreement with India. Accordingly, India will buy oil from Venezuela instead of from Iran. Mr. Trump emphasized that besides India, China can completely participate in buying oil and investing in Venezuela's energy industry.
Besides the Venezuela issue, Mr. Trump also said that the US may seek an agreement with Cuba after Washington threatened to impose tariffs on countries supplying oil to this island nation. He said that Cuban leaders may approach the US to reach a new agreement and affirmed that Washington is ready to have a soft approach in negotiations.
