Explore Business Standard
Venezuela
US President Donald Trump's new executive order on Venezuelan oil revenue is meant to ensure that the money remains protected from being used in judicial proceedings. The executive order, made public on Saturday, says if the funds were to be seized for such use, it could undermine critical US efforts to ensure economic and political stability in Venezuela. The order comes amid caution from top oil company executives that the tumult and instability in Venezuela could make the country less attractive for private investment and rebuilding. If we look at the commercial constructs and frameworks in place today in Venezuela, today it's uninvestable, said Darren Woods, CEO of ExxonMobil, the largest US oil company, during a meeting convened by Trump with oil executives on Friday. During the session, Trump tried to assuage the concerns of the oil companies and said the executives would be dealing directly with the US, rather than the Venezuelan government. Venezuela has a history of state
The United States and Venezuelan governments said Friday they were exploring the possibility of restoring diplomatic relations between the two countries, and that an delgation from the Trump administration arrived to the South American nation on Friday. The small team of US diplomats and diplomatic security officials traveled to Venezuela to make a preliminary assessment about the potential re-opening of the US Embassy in Caracas, the State Department said in a statement. Venezuela's government acknowledged the delegation's presence in Venezuela and announced that it will send a delegation to the US but it did not say when. Venezuela's government on Friday acknowledged that US diplomats had travelled to the South American country and announced that it will send a delegation to the US but it did not say when. In a statement, Delcy Rodrguez's government said it has decided to initiate an exploratory process of a diplomatic nature with the Government of the United States of America, .
President Donald Trump is meeting with oil executives at the White House on Friday in hopes of securing USD 100 billion in investments to revive Venezuela's ability to fully tap into its expansive reserves of petroleum a plan that rides on their comfort in making commitments in a country plagued by instability, inflation and uncertainty. Since the US military raid to capture former Venezuelan leader Nicols Maduro on Saturday, Trump has quickly pivoted to portraying the move as a newfound economic opportunity for the US, seizing three tankers carrying Venezuelan oil, saying the US is taking over the sales of 30 million to 50 million barrels of previously sanctioned Venezuelan oil and will be controlling sales worldwide indefinitely. It's also part of a broader push by Trump to keep gasoline prices low. At a time when many Americans are concerned about affordability, the incursion in Venezuela melds Trump's assertive use of presidential powers with an optical spectacle meant to ...
Venezuela's military held a funeral in the capital Wednesday for some of the dozens of soldiers killed during the US operation that captured then-President Nicols Maduro. Music from a military orchestra echoed over the cemetery as family members and soldiers marched behind a row of caskets. Men carried the wooden caskets cloaked in the Venezuelan flag past rows of uniformed officers. Thank you for letting them embrace a military career, a military commander, Rafael Murillo, said to families surrounding him at the cemetery on the city's south side. The men were honored with a gun salute as the caskets were lowered into the ground and their loved ones wailed. Armed National Guard members patrolled parts of the cemetery for hours before and during the ceremony that followed an emotional wake. The funeral came a day after acting President Delcy Rodrguez declared a seven-day mourning period for the fallen officers. Venezuela's military has said at least 24 Venezuelan officers were kill
As the United States prepares to seize control of Venezuelan oil and the administration of US President Donald Trump hardens its stance toward Cuba, Mexico has emerged as a key fuel supplier to Havana. It's a role that could further complicate already strained relations with the Trump administration, even though the Mexican government insists that exports to the island have not increased. Mexican President Claudia Sheinbaum acknowledged on Wednesday that with the current situation in Venezuela, Mexico has become an important supplier of crude oil to Cuba, but asserted that no more oil is being sent than has been sent historically; there is no specific shipment. She added that those shipments are made via contracts or as humanitarian aid, but offered no concrete figures on the number of barrels exported. **'The blackouts are going to intensify' Following the 1959 revolution that toppled dictator Fulgencio Batista, the US imposed a trade embargo on Cuba in response to the ...
