Cars drive past the oil refinery in the Venezuelan city of Moron on April 30, 2009. Thomas Coex /AFP via Getty Images
President Donald Trump says he is open to China and India investing in Venezuela’s oil sector, but new U.S. rules show that any reopening of Venezuela’s oil trade will come with strict legal and financial conditions designed to keep Washington firmly in control.
Speaking to reporters aboard Air Force One on Jan. 31, Trump said China is “welcome to come in and we’ll make a great deal on oil.” He also said the United States is working with India on a plan to buy Venezuelan crude instead of oil from Iran, adding that the basic “concept” has already been agreed upon.
