US ‘welcomes’ Chinese oil investment in VenezuelaAFP, WASHINGTONUS President Donald Trump on Saturday said he would “welcome” Chinese investment in Venezuela’s oil industry as the South American country seeks to revive its battered economy following the kidnapping of Venezuelan President Nicolas Maduro. Venezuela sits on the world’s largest proven oil reserves and 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, whose Jan. 3 capture by US forces drew condemnation from China’s foreign ministry and made uncertain Beijing’s future with Caracas. He said that Acting Venezuelan President Delcy Rodriguez on Friday agreed to an energy cooperation deal with India. They’re going to make more money than they’ve ever made, and it’s going to be beneficial to us,” he said.

Source: Taipei Times February 01, 2026 18:12 UTC