Trump, Venezuela and Oil
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Secretary of State Marco Rubio told reporters that the U.S. has a three-phase plan for Venezuela, with an initial emphasis on stabilizing the country.
Remittances from around the world accounted for an estimated 7.5% of Venezuela’s gross domestic product in 2025, according to the Remittance Industry Observatory, a think tank in Washington, D.C. But analysts say that number is likely greatly understated because the funds are mostly routed through unofficial channels that are hard to track.
New York Magazine on MSN
Who Is Trying to Make Money in Venezuela Right Now?
For years, some firms on Wall Street have been holding on to underwater bonds from Venezuela hoping a political shift, an economic rebound, or an end to oil sanctions could help them recoup some of their losses buying Venezuelan debt.
The U.S. carried out operations Wednesday to seize two Venezuela-linked tankers, and Secretary of State Marco Rubio said the U.S. has "tremendous leverage" over the country.
Companies like Exxon Mobil and ConocoPhillips say that Venezuela owes them billions of dollars for confiscating their assets two decades ago.
President Donald Trump believes US companies can revive Venezuela’s beleaguered oil industry, benefiting both that nation and America. But even if that happens, it would be a fraction of changes needed to get the destitute country back on its feet.
In times of turmoil, investors often seek safe-haven investments — assets that have historically held their value during periods of market stress — such as government bonds, gold and cash. Gold prices hit a one-week high at $4,452.60 per ounce on Tuesday, and silver climbed to $77.97 per ounce.
Digital publication Project Brazen reported Saturday that Venezuela could hold an estimated $60 billion worth of Bitcoin. Additional intelligence reports allege that ousted Venezuelan President Nicolas Maduro and his associates accrued Bitcoin via three channels: a gold swap overseen by Venezuelan Interior Minister Alex Saab in 2018,