Washington. The ongoing dispute between America and Venezuela seems to be taking the shape of war. America is now threatening Venezuela and asserting its rights over its oil. US President Donald Trump has said that America wants back its oil and energy rights in Venezuela, which according to Trump were illegally snatched away by the government there. Trump said this while talking to journalists.
He said that Venezuela had taken away all our energy and oil rights. All this happened illegally and now we want it back. Earlier, Trump had told on his Truth Social that Venezuela is facing the biggest naval siege of South America so far. He said the siege would continue until Caracas returns the stolen oil and related assets. Venezuela has strongly criticized this move of America and complained to the UN. Overall, a war situation is emerging.
According to media reports, Trump’s close aide and White House Deputy Chief of Staff Stephen Miller has also given a controversial statement regarding Venezuelan oil. He said that Venezuelan oil actually belonged to America and the nationalization of the oil industry there was theft. Miller wrote in the post – The oil industry was established in Venezuela due to American hard work, technology and capital. He alleged that the government there forcibly took it into its possession and this looted money was used to promote terrorism and spread drugs.
Let us tell you that according to international law, the natural resources of any country are owned by that country. Venezuela nationalized its oil industry in 1976 and brought it under state ownership. In 2007, then President Hugo Chavez nationalized the remaining foreign oil projects, due to which American companies had to exit. American companies gave it a legal challenge and in 2014, a World Bank tribunal ordered Venezuela to pay $1.6 billion. This matter is still not completely over. Trump had imposed sanctions on a Venezuelan government company during his last term. In his second term, Trump has further intensified the policy of maximum pressure against Venezuela.