US President Donald Trump says he would welcome Chinese investment in Venezuela’s oil sector as the country seeks to revive its economy.
WASHINGTON: US President Donald Trump said he would “welcome” Chinese investment in Venezuela’s oil industry.
He made the remarks as the South American country seeks to revive its battered economy following the ouster of leader Nicolas Maduro.
Venezuela sits on the world’s largest proven oil reserves. It reformed laws this week to open the sector up to private and foreign investment.
China had been the dominant buyer of Venezuelan oil under Maduro. His capture by US forces made Beijing’s future with Caracas uncertain.
“China is welcome to come in and would make a great deal on oil. We welcome China,” Trump told reporters.
He noted Venezuela’s Interim President Delcy Rodriguez agreed to an energy cooperation deal with India.
“India is coming in and they’re going to be buying Venezuelan oil as opposed to buying it from Iran,” Trump said.
Trump, who has said Washington is now “in charge” of Venezuela, said the United States and Caracas would share oil profits.
“We’re going to be selling a lot of oil, and we’ll take some, and they’ll take a lot,” he said.
Trump also suggested the US would work out a “deal” with Cuba after threatening tariffs on countries who give it oil.
“I think we’re going to work a deal with Cuba,” Trump said.
