Trump’s move, which he first signalled in the new US security strategy last month, marks a worrying reassertion of the doctrine. Venezuela is home to the largest proven crude reserve on Earth, but the actual oil output from the South American nation is minuscule. The South American country is estimated to be sitting on over 300 billion barrels worth of crude — about a fifth of the world’s global reserves, according to the US Energy Information Administration (EIA). Chevron is an American company, and the only foreign oil major with exposure to Venezuelan crude. Story continues below this adThe Monroe DoctrineNamed after former President James Monroe, this Doctrine is one of the most consequential American foreign policy agendas of the last century.

Source: Indian Express January 04, 2026 07:36 UTC