As Business Insider previously wrote, Trump and his advisers are planning a broad-based initiative aimed at dominating the Venezuelan oil industry. The US president suggested the possibility of Washington's involvement in the reconstruction of Venezuela's oil infrastructure. Americans would support, among others: Exxon Mobil and ConocoPhillips, which suffered losses after former President Hugo Chavez nationalized the country's oil sector.
- Donald Trump on Venezuelan oil. The US president leaves no doubts
In December, even before the kidnapping of the Venezuelan president, the Trump administration began tracking and seizing tankers carrying sanctioned oil that belonged to the so-called shadow fleet, transporting raw materials, among others for Venezuela, China and Iran. American forces include detained several ships flying the Moscow flag.
Donald Trump's blockade is working. China has a problem
As reported by The New York Times, Trump's blockade of Venezuelan oil is proving successful. Since Maduro's kidnapping, oil exports have fallen by 75%. compared to monthly volumes from last year.
“There has been a sudden stop in the flow of Venezuelan oil headed to Asia, and there have been no confirmed deliveries to Cuba this month,” writes the American headline. As Reuters wrote, China imported an average of 642,000 from Venezuela. barrels per day in 2025
- The war for oil. The overthrow of Maduro could be the beginning of an oil revolution. China and Russia will be left out in the cold
The New York Times notes that, as a result, China is looking for new oil suppliers. “We heard very clearly that China is looking for new, reliable trading partners. Ones that do not use energy as a pressure tool,” said Canadian Natural Resources Minister Tim Hodgson after the talks in Beijing.
Finally, on January 15, 2026, Canada and China signed a new energy agreement, which includes, among others: cooperation in the field of crude oil and LNG.
