United States President Donald Trump said on Saturday, January 31, that he would welcome Chinese investment in Venezuela’s oil industry as the South American nation seeks to revive its weakened economy following the removal of former leader Nicolas Maduro.
Venezuela holds the world’s largest proven oil reserves and this week amended its laws to allow private and foreign investment in the energy sector.
China had been the main buyer of Venezuelan oil during Maduro’s rule. His capture by United States forces on January 3 drew condemnation from China’s foreign ministry and cast uncertainty over Beijing’s future relations with Caracas.
“China is welcome to come in and would make a great deal on oil. We welcome China,” Trump told reporters aboard Air Force One.
He said Venezuela’s interim president, Delcy Rodríguez, had on Friday agreed to an energy cooperation deal with India.
“India is coming in and they’re going to be buying Venezuelan oil instead of buying it from Iran. We’ve already made that deal, the concept of the deal, but China is welcome to come in and buy oil,” Trump said.
Trump, who has stated that Washington is now “in charge” of Venezuela, said the United States and Caracas would share oil profits. He added that the United States was “getting along very well with the leadership of Venezuela”.
“We’re going to be selling a lot of oil. We’ll take some, they’ll take a lot, and they’re going to do very well. They’re going to make more money than they’ve ever made, and it’s going to be beneficial to us,” he said.
Trump also said the United States could reach a deal with Cuba after previously threatening tariffs on countries supplying the island with oil.
“I think they would come to us and want to make a deal so Cuba would be free again,” Trump said, adding, “I think we’re going to work a deal with Cuba. We’ll be kind.”
