Donald Trump’s masterplan, prepares three-phase strategy to control Venezuela’s oil wealth, says money to be spent for people of…

According to the Trump administration, the US will now sell all of Venezuela's oil and then spend the proceeds according to its own discretion.

New Delhi: In an unprecedented move, the US military abducted Venezuelan President Nicolas Maduro and his wife on Saturday, and he is currently facing trial in the United States. In a way, the United States has taken full control of Venezuela’s government. In particular, complete American control has been established over the production of crude oil in Venezuela. According to the Trump administration, the US will now sell all of Venezuela’s oil and then spend the proceeds according to its own discretion.

The US Department of Energy, on Wednesday, said that it has begun marketing Venezuelan oil and the money earned from this will be deposited in US accounts in banks around the world. The department further added that the money will be spent for the interest of the American and Venezuelan people. However, it is important to note that the decision on how and where the funds will be spent will be taken by the US government.

Experts are of the opinion that the US intends to maintain long-term control over Venezuelan oil. The US expects to obtain around 30 to 50 million barrels of oil from Venezuela. According to the reports, the US also said that any goods Venezuela purchases must be bought only from the United States.

Here are some of the important details:

• The US has found a new market for itself amid the tariff war with countries like China and India.
• US Secretary of State Marco Rubio has unveiled a three-phase policy regarding control over Venezuela.
• Rubio said that the Trump administration is currently preparing to operate in three phases.
• Rubio further added that the revenue generated from Venezuelan oil will be used in such a way that people do not siphon it off through corruption
• The second phase will involve releasing opposition leaders imprisoned in Venezuelan jails.
• The third round will involve a transfer of power in Venezuela.

These policies clearly reflect that the Trump administration is planning for long-term control over Venezuela. Gregory Brew of the Eurasia Group said this would be a situation in which an oil-producing country would not have control over its own crude. Production would take place there, marketing would be done afterward, and all the profits generated would go to the United States.