"President Donald Trump aims to control and revive Venezuela's oil industry. Critics call it modern-day colonialism. A nation with the world's largest oil reserves, Venezuela is now at the centre of a high-stakes economic power play over energy supply with global ramifications. The United States says it will control the sales and revenue of Venezuelan oil indefinitely, days after it abducted the nation's President Nicolas Maduro."
"The United States says it will control the sales and revenue of Venezuelan oil indefinitely, days after it abducted the nation's President Nicolas Maduro. President Donald Trump wants US companies to invest billions of dollars to revive the nation's oil sector. Washington says that would benefit the people of Venezuela and the US. Critics, though, have called the move modern-day colonialism and a direct grab for energy resources."
President Donald Trump aims to control and revive Venezuela's oil industry and to control the sales and revenue of its oil indefinitely. Venezuela holds the world's largest oil reserves and is at the centre of a high-stakes economic power play over global energy supply with wide ramifications. The United States asserts control over Venezuelan oil sales days after it abducted President Nicolas Maduro. Donald Trump seeks US corporate investment of billions to rebuild the oil sector, with Washington claiming benefits for both Venezuelans and the United States. Critics label the initiative modern-day colonialism and a direct grab for energy resources. Iran faces an economic crisis amid related geopolitical tensions.
Read at www.aljazeera.com
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