US President Donald Trump said the US will “govern” Venezuela until there is a “safe, proper and reasonable transition” after US strikes led to the capture of the country's President Nicolas Maduro.
US oil companies will also rebuild Venezuela's “broken infrastructure” and “start making money for the country,” Trump said.
On Saturday, the US carried out strikes in Venezuela, during which Maduro and his wife were captured by US troops and taken out of the country.
Venezuela declared a national emergency and condemned “military aggression,” with the country's vice president saying Maduro is its only leader.
The US Attorney General said Maduro faces drug and weapons trafficking charges.
Speaking at a press conference, Trump said: “The oil business in Venezuela has been a bust for a long period of time, a total bust.”
“We're going to have our very large oil companies in the United States, the largest in the world, invest billions of dollars, fix the badly broken infrastructure, the oil infrastructure, and start making money for the country.”
The South American country has about 303 billion barrels of crude oil reserves, about 20% of the world's oil reserves, according to the U.S. Energy Information Administration.
It's unclear exactly how the US plans to “govern” Venezuela, but the president has said a “group” of people will lead the charge.
“We're going to launch it with a group and make sure it works correctly,” Trump said.
Asked by reporters about who would be part of the group inside Venezuela, Trump said Secretary of State Marco Rubio had spoken with Delcy Rodriguez, the country's vice president.
Trump said Rodriguez expressed her willingness to do “anything the United States asks.”
But speaking on state television after Trump's remarks, Rodriguez called Maduro “the only president of Venezuela,” adding that the government is ready to defend itself.
Previously, Rodriguez was the first Venezuelan official to speak publicly after the US strikes, calling on the US to provide evidence of the lives of Maduro and his wife.
Early Saturday morning, the United States launched a “large-scale strike” on Venezuela that resulted in Maduro and his wife being captured by U.S. forces and taken out of the country before being transported aboard the aircraft carrier USS Iwo Jima.
U.S. Attorney General Pam Bondi said Maduro and his wife, First Lady Celia Flores, were indicted in the Southern District of New York.
“They will soon face the full wrath of American justice on American soil in American courts,” Bondi wrote on X.
Maduro has previously vehemently denied being the leader of the cartel and accused the US of using the “war on drugs” as a pretext to try to overthrow him and get hold of Venezuela's vast oil reserves.
Since September, the US has carried out more than 30 strikes on ships it says are used to transport drugs in the Pacific and Caribbean, killing more than 100 people.
The Trump administration has characterized the strikes on ships in the Caribbean and Eastern Pacific as attacks on terrorists trying to bring fentanyl and cocaine into the United States, but authorities have provided no evidence to support their allegations.
With the exception of two survivors – citizens of Colombia and Ecuador – the identities of those on board have not been disclosed.
Earlier this week the conflict escalated further when The US struck the “dock” linked to alleged Venezuelan drug trials.
Fentanyl is produced primarily in Mexico and enters the United States almost exclusively overland through the southern border.
Anti-drug experts also said Venezuela is a relatively minor player in global drug trafficking.
It primarily acts as a transit country through which drugs produced elsewhere are smuggled.
