Venezuelan oil is a key resource in the context of a change of power
Former US Army Capt. Doug Truax and former US Navy Capt. Brent Sadler join Fox News Live to discuss the strike on Venezuela and the capture of Nicolas Maduro, details of the raid on Maduro's compound and more.
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Women's tennis legend Martina Navratilova took to social media on Saturday to share her thoughts on the US intervention in Venezuela, backing the idea of criminal sanctions against US companies that try to take over oil from the country.
Navratilova praised A post on X suggesting sanctions, with the caption “love this” in response to a post by journalist Lauren Windsor that said: “Any US oil company that expropriates oil from Venezuela should be sanctioned by the International Criminal Court.”
Navratilova later shared her thoughts on the operation that resulted in the name of Venezuelan President Nicolas Maduro. President Donald Trump declaring that the US will “govern” Venezuela until the transfer of power is completed.
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“I am holding the country hostage and plundering its natural resources. Next stop is either Greenland or Nigeria,” Navratilova wrote in response to a thread that included a report that representatives from Wall Street firms in the financial, energy and defense sectors had visited Venezuela following recent strikes.
Venezuela, about twice the size of California, holds world's largest proven oil reserves. At approximately 300 billion barrels, about 20% of the world's reserves and nearly four times the size of the United States, these reserves dwarf those of any other country.
Venezuela's reserves, now larger than those of energy giants such as Saudi Arabia, have become a central flashpoint in the geopolitical fight over the country's future.
Venezuela's reserves are dominated by heavy and extra-heavy crudes, requiring specialized equipment, constant maintenance and advanced refining capacity, much of which has fallen into disrepair after years of underinvestment and the loss of skilled labor.
In a speech on Saturday, Trump accused Venezuela's socialist government of seizing American energy assets and dismantling industries built with American investment.
“Venezuela unilaterally seized and sold American oil, American assets and American platforms, costing us billions and billions of dollars,” Trump said. “They took all our property.”
“We built Venezuela's oil industry with American talent, passion and skill, and the socialist regime stole it from us,” he added.
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Trump added that the US energy the companies will play a key role in the recovery of the Latin American country's oil sector.
“We're going to bring in our very large US oil companies, spend billions of dollars, fix the badly damaged oil infrastructure and start making money for the country,” he said.
Fox News Digital's Amanda Macias contributed to this report.
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