President Trump said Monday the U.S. may subsidize oil companies' efforts to rebuild Venezuela's energy infrastructure in a project he estimated could take less than 18 months.
Why it matters: Trump's comments in an interview with NBC signal a longer-term U.S. presence in the oil-rich South American country just days after the capture of Venezuelan leader Nicolás Maduro — and he's framing the effort as broadly supported.
- Trump told NBC that Venezuela will not hold an election within the next 30 days.
- He said there's "no way" Venezuelans could vote until the U.S. helps "fix the country" and that "it's going to take a period of time" to bring Venezuela "back to health."
State of play: Trump laid out his vision for U.S. leadership in Venezuela to NBC hours after Maduro and his wife, Cilia Flores, were arraigned in New York on federal charges including narco-terrorism and drug trafficking. Both pleaded not guilty.
- Trump insisted during the interview that the U.S. is not at war with Venezuela. However, he reiterated his warning that a second military operation would be possible if Vice President Delcy Rodríguez, sworn in as Maduro's successor on Monday, failed to comply with his administration's demands.
- He said a decision will soon be made about whether sanctions on Rodríguez will remain or be lifted, but he noted Secretary of State Marco Rubio has been speaking to her in Spanish and that their "relationship has been very strong."
- Rubio, Defense Secretary Pete Hegseth, deputy White House chief of staff Stephen Miller and Vice President JD Vance will all help oversee U.S. involvement in Venezuela, Trump said.
The big picture: Venezuela has the world's largest known oil reserves.
- The president argued that having access to Venezuela's oil would allow supply to flow more freely, bringing prices down in the U.S.
- Trump has claimed Venezuelan officials stole U.S. oil assets when the country nationalized the industry, though experts say the situation is complex.
- He has said the U.S. would restore Venezuela's oil infrastructure and compensate American companies that lost out in the seizures.
Zoom in: The president told NBC that oil companies investing in the latest projects will eventually be reimbursed by the U.S. or through generated revenue.
- White House spokesperson Taylor Rogers told Axios, "All of our oil companies are ready and willing to make big investments in Venezuela that will rebuild their oil infrastructure, which was destroyed by the illegitimate Maduro regime."
- Rubio suggested Sunday that the U.S. would implement an "oil quarantine" to force Venezuela's new leaders to comply with the administration's goals, ultimately giving the U.S. greater leverage to refine the country's abundance of crude oil.
Of note: Trump has faced backlash from some Democrats and Republicans over bypassing congressional authorization for the military operation, but he told NBC: "MAGA loves it."
- He said Congress was aware of his administration's plans, though he declined to share any further details.
- "MAGA loves what I'm doing. MAGA loves everything I do," Trump told NBC. "MAGA is me. MAGA loves everything I do, and I love everything I do, too."
What we're watching: Energy Secretary Chris Wright will meet with U.S. oil executives this week, per multiple reports.
Go deeper: Inside Congress' deep split after marathon Venezuela briefing
Editor's note: Axios' Ben Geman contributed reporting.
Editor's note: This article has been updated with additional reporting and more context.
