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U.S. President Donald Trump on Friday called on oil executives to rush back into Venezuela as the White House looks to quickly secure $100 billion in investments to revive the country’s ability to fully tap into its expansive reserves of petroleum.
Since the U.S. military raid to capture former Venezuelan leader Nicolás Maduro on Saturday, Trump has quickly pivoted to portraying the move as a newfound economic opportunity for the U.S., seizing tankers carrying Venezuelan oil, and saying the U.S. is taking over the sales of 30 million to 50 million barrels of previously sanctioned Venezuelan oil and will be controlling sales worldwide indefinitely.
Trump used the meeting with oil industry executives to publicly assure them that they need not be sceptical of quickly investing in and, in some cases, returning to the South American country with a history of state asset seizures as well as ongoing U.S. sanctions and decades of political uncertainty.
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