Trump: US to open Venezuela to oil

Trump stated that the United States is opening Venezuela to major oil companies. He said the new U.S. policy would allow access to a large number of international companies wishing to invest in Venezuelan oil. He noted that he has 'excellent relations' with Venezuela's leadership, which, in his opinion, promotes further cooperation.

The United States previously imposed sanctions on Venezuela due to political and economic instability, but now the U.S. president reports a softening of the approach.

Context

Last year, the United States reduced sanctions against Venezuela, which became possible after a change in the country's foreign policy.