Trump said Venezuela had begun releasing a significant number of political prisoners as a gesture of “seeking peace,” following last week’s US-led operation to abduct President Nicolás Maduro, who is currently in US custody along with his wife, Cilia Flores.
“This is a very important and smart gesture. The USA and Venezuela are working well together, especially as it pertains to rebuilding, in a much bigger, better, and more modern form, their oil and gas infrastructure,” Trump wrote on Truth Social.
“Because of this cooperation, I have cancelled the previously expected second Wave of Attacks, which looks like it will not be needed; however, all ships will stay in place for safety and security purposes.”
The announcement comes amid evolving US-Venezuela relations, with Trump indicating earlier on Fox News’s Hannity program that Venezuelan opposition leader Maria Corina Machado would visit Washington next week, despite his previous dismissals of her political influence.
Trump also told The New York Times on Wednesday that the US was “getting along very well” with Venezuela’s interim government, led by acting President Delcy Rodríguez.
In addition to the diplomatic developments, Trump is scheduled to meet with executives from major oil companies at the White House on Friday. He announced that “at least 100 billion dollars will be invested by BIG OIL” in Venezuela, a move aimed at restoring the country’s oil and gas infrastructure.
The Trump administration has repeatedly indicated its intention to control Venezuela’s oil industry indefinitely. Energy Secretary Chris Wright has emphasised that Washington would manage the country’s oil production, though the state-run oil company has maintained that it remains in charge, negotiating only on oil sales with the US.
Exxon Mobil, Chevron, and ConocoPhillips are expected to attend the White House meeting. Chevron is currently the only US company licensed to operate in Venezuela; Exxon and ConocoPhillips left the country in 2007 after refusing to cede majority stakes to the government.
Venezuela, sanctioned by Washington since 2019, holds roughly one-fifth of the world’s oil reserves but produced only about 1 percent of global crude output in 2024, according to OPEC. Trump views the country’s oil wealth as a potential boost to lower domestic fuel prices in the US.
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