Latest update March 13th, 2026 12:35 AM
‘We’re going to keep the oil’ – Trump says after ousting Maduro
(The Hill) President Donald Trump on Monday dismissed comparisons between past U.S. involvement in Iraq and the recent military operation in Venezuela, saying the difference is that his administration plans to keep the seized oil from Venezuela.
“The difference between Iraq and this is that [former President George W. Bush] didn’t keep the oil. We’re going to keep the oil,” Trump said, according to MS NOW’s Joe Scarborough, who detailed his conversation with the president.
“In 2016, I said we should have kept the oil. It caused a lot of controversy. Well, we should have kept the oil,” Trump continued, as recalled by the “Morning Joe” host. “And we’re going to rebuild their broken-down oil facilities, and this time we’re going to keep the oil.”
Trump’s comments to Scarborough come after the president told NBC News on Monday that he was open to the U.S. supporting oil companies to help build up Venezuela’s infrastructure, which he said could take less than 18 months.
“I think we can do it in less time than that, but it’ll be a lot of money,” Trump told the network. “A tremendous amount of money will have to be spent, and the oil companies will spend it, and then they’ll get reimbursed by us or through revenue.”
Venezuela’s future remains uncertain following a U.S. military raid in the country’s capital Caracas on Saturday that resulted in the capture and arrest of Venezuelan President Nicolás Maduro and his wife Cilia Flores.
Maduro’s vice president Delcy Rodriguez was sworn in as interim president Monday, but Trump has maintained that the U.S. is running the South American country.
Trump told NBC News on Monday that a group of U.S. officials, including Secretary of State Marco Rubio, Defense Secretary Pete Hegseth, deputy White House chief of staff Stephen Miller and Vice President Vance, would lead the U.S.’s involvement in Venezuela.
“It’s a group of all. They have all expertise, different expertise,” Trump said, telling the network that he was ultimately the person in charge.
30 to 50 million barrels
Meanwhile, Trump says Venezuela will be “turning over” 30 to 50 million barrels of sanctioned oil to the United States.
“This Oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States!” Trump said in a social media post.
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