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Tag: VENEZUELA

  • Venezuela: It’s the oil, stupid!

    Venezuela: It’s the oil, stupid!

    United States President Donald Trump has for long fantasised about annexing northern neighbour, Canada, as his country’s 51st state. Now, he’s struck a better deal in the larger hemisphere with Venezuela. The Latino nation with vast oil reserves, estimated to be the world’s largest, is a conquered colony and its natural wealth is pledged to America’s pleasure. It is effectively the rule of might in a world presumed to run on international law espousing respect for mutual sovereignty.

    President Trump tore up the global rulebook with his country’s attack recently on Venezuela and the capture of its strongman, Nicolás Maduro, along with his wife, Cilia Flores, and their extradition to the US for trial. Maduro is accused by Trump of running “state sponsored gangs” and facilitating drug trafficking from his country into the US. The 63-year-old was early last week arraigned before a Manhattan judge on charges including “narco-terrorism” conspiracy, cocaine importation and weapons trafficking – allegations that he has long denied. But neither did Trump disguise his interest in taking control of Venezuela’s oil, and he has since the bombing of Caracas leveraged every occasion to claim that country’s oil resource. And he offers no apology for the brazen appropriation.

    It was not the first time the US was taking out another country’s leader for differences – genuine or orchestrated. But it was a first in flaunting might to take over other people’s natural wealth. Maduro’s capture came nearly four decades after US forces seized another indicted Latin American leader and one-time ally, Manuel Noriega of Panama. Noriega rose to power in 1983 on the heels of a plane crash that killed then junta leader, Omar Torrijos, and he was propped up by Washington with hundreds of thousands of dollars avowedly to fight drug trafficking. He was even said to be on the Central Intelligence Agency (CIA) payroll as an informant and he promoted US interest in Latin America – at some point acting as Washington’s liaison with Fidel Castro of Cuba.

    Read Also: 5.36m electricity customers remain without meters– NERC

    Noriega fell out of favor with Washington when he asserted his independence, and following allegations he was accepting bribes to allow drugs into the US in the late 1980s. Former President George H.W. Bush ordered US troops to invade Panama in late 1989, sending 24,000 troops to topple Noriega’s government. That operation resulted in the death of 23 American soldiers and left hundreds more injured. Noriega hid out in the Vatican embassy before surrendering to US authorities on 3rd January, 1990, upon which he was taken to the US to face drug trafficking charges. His fall marked the end of military dictatorship in Panama. He was convicted on drug trafficking charges and spent 20 years in American jail before being extradited to France in 2010 to serve a seven-year sentence for money laundering. Noriega was returned to Panama in 2011 to complete a 60-year sentence for offences imputed to the military’s three-decade rule in that country. He died of complications from a surgery to remove a benign brain tumor in 2017 at 83 years.

    Trump must have a sardonic sense of history, in that he ordered the capture of Maduro on 3rd January, 2026 – exactly 36 years from when Noriega surrendered to US forces. The Venezuela operation was reportedly delayed for many days owing to inclement weather conditions, though. Unlike the casualty-incurring Panama invasion, the Venezuela mission was clinical. In the two-hour-and-twenty-minute mission by air, land and sea that maximised the element of surprise, Maduro was seized from his safehouse and squirrelled off with his wife before Venezuelan authorities could make sense of decoy explosions and multiple US strikes that targeted the country’s air defence systems and other military targets.

    The American leader praised the operation as one of the “most stunning, effective and powerful displays of American military might and competence in American history.” According to him, only “a couple of guys” got injured on the US side with no service member killed. Meanwhile, Venezuela cited a heavy toll on its part. Venezuelan Defence Minister Vladimir Padrino said many in Maduro’s security team as well as “soldiers and innocent civilians” were killed in the US operation. Washington had previously offered a $50million reward for information leading to Maduro’s arrest. But by 04:20 local time on 3rd January, helicopters were leaving Venezuelan territory with Maduro and his wife in custody of the US Department of Justice en route to New York to face criminal charges. About an hour later, Trump broke the news to the world: “Maduro and his wife will soon face the full might of American justice,” he said.

    Only it’s not all about Maduro’s misdeeds, but rather about taking control of Venezuela’s oil reserves. And Trump didn’t even mask the intention. At one of his early press parleys following the invasion, he said the US would “run the country” until a leadership transition could take place, and that US oil firms would go into Venezuela. On the same day that Maduro was seized, Venezuelan supreme court ordered Vice-President Delcy Rodríguez to assume office as interim president during Maduro’s “temporary absence.” But Trump insisted the US will decide the country’s fate. He later said Rodríguez had offered her support to Washington, adding cryptically: “She really doesn’t have a choice.”

    In subsequent statements, the American leader said Venezuela would soon be turning over some 50million barrels of oil to the US. In a social media post, he stated that the oil being expected from Venezuela would be sold and the proceeds used for the benefit the people of Venezuela and the US. “I am pleased to announce that the interim authorities in Venezuela will be turning over between 30 and 50million barrels of high quality, sanctioned oil to the United States of America,” he said. “This oil will be sold at its market price and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States,” he added. On the heels of Rodríguez taking the oath as Venezuela’s interim president, he had warned: “If she doesn’t do what’s right, she is going to pay a very big price, probably bigger than Maduro.”

    Venezuela has millions of barrels of oil loaded on tankers and in storage tanks that it’s been unable to ship owing to a US blockade on exports imposed late last year. Now, Washington and Caracas have reached a deal to export up to $2billion worth of Venezuelan crude to the US – an indication that the Venezuelan government was responding to Trump’s demand that authorities there open up to US oil companies or risk expanded military action. The Trump administration, mid-last week, laid out bare-bones plan to take control of selling Venezuelan oil. “We are in the midst right now and in fact about to execute a deal to take all the oil,” Secretary of State Marco Rubio said Wednesday in Washington. Earlier in the day, Energy Secretary Chris Wright said the US intended to maintain significant control over Venezuela’s oil industry, including overseeing the sale of the country’s production “indefinitely.” Venezuela’s state oil firm issued a statement same day confirming that negotiations were underway with the US, but stopped short of saying a deal was in place.

    Maduro wasn’t by any stretch a good leader of his country. But Trump was the quintessential aggressor in a world system handicapped from holding him in check. And so, it sucks to moralise the US military action the way United Kingdom Conservative Party leader with Nigerian roots, Kemi Badenoch, sought to do. Speaking on BBC Radio 4 Today programme last week, Badenoch described the American raid as morally justified and equated Maduro’s misrule to her own experience of military dictatorship while growing up in Nigeria.

    “Morally, yes,” the Tory leader responded when asked whether sending special forces to seize Maduro was right. “While the legal certainty is not yet clear, morally I do think it was the right thing to do,” she said. “Venezuela was a brutal regime. We didn’t even recognise it as a legitimate government. I think that what’s happened is quite extraordinary. But I understand why America has done it,” Badenoch explained. She linked her stance to her background, saying her views were shaped by lived experience. “I grew up under a military dictatorship [in Nigeria], so I know what it’s like to have someone like Maduro in charge. I know what it’s like to have people celebrating in the street. So I’m not condemning the US,” she said.

    Badenoch never tires of belittling the country of her ancestry, but she was wrong as ever. The attack on Venezuela had nothing to do with morality. It’s the oil, stupid!

    •Please join me on kayodeidowu.blogspot.be for conversation. 

  • Oil prices fall on Venezuela crisis

    Oil prices fall on Venezuela crisis

    • Experts disagree on how it ‘ll affect budget

    Nigeria’s 2026 budget may be threatened following the US strike on Venezuela at the weekend. This is as a result of the ripple effect the action is having on the price of crude in the international market.

    Yesterday, oil prices continued their decline with Brent dropping by 0.38 per cent to $60.56 a barrel. The  United States(US) West Texas Intermediate (WTI) crude fell by 1.17 per cent to $56.46 a barrel as the market reacted to   President Donald Trump’s announcement that the US had secured a deal to import up to $2 billion in Venezuelan crude.

     Also,  Trump said Venezuela will turn over between 30 million and 50 million barrels of oil to the US in two months.

    With Nigeria’s 2026 federal budget of N58.18 trillion predicated on a “conservative” crude oil benchmark of $64.85 per barrel, experts reckon that should the decline continue,   the revenue earnings of the country may be affected. 

    Just yesterday, US Energy Secretary Chris Wright  further accentuated Trump’s plans for Venezuela’s oil, affirming that the   plans to take long-term control of Venezuela’s oil industry, including overseeing crude sales and revenues, “indefinitely.”

     Under the plan, Washington would sell Venezuelan oil directly on global markets, thus adding to the current glut being experienced in the global supply and delivery position.

       Mayowa Sodipo, an oil and gas consultant, said continued involvement of America in Venezuelan oil will negatively affect Nigeria’s revenue projection for this year because the US has always been the world’s largest buyer of the country’s oil.

    ‘’The gains being recorded by the local currency, the Naira, may also be in jeopardy given that oil remains the largest source of foreign exchange for the country.

    Read Also: Venezuela, Russia, China, UK urge U.S. to release Maduro

    “Our forex may suffer if the price decline continues; it means reduced Forex inflow for the country, including affecting our external reserves, and this will put more pressure on the naira,” Sodipo said.

    He warned that the effect will reverberate in the overall economy as major projects may be impacted negatively. “The government has embarked on huge projects; they may suffer funding should the price continue to decline,” Sodipo added.

    This view was reechoed by former chairman of the Chartered Institute of Bankers of Nigeria (CIBN), Prof. Segun Ajibola, who warned that as one of Nigeria’s top oil buyers, any reduction in U.S. demand could have knock-on effects for export volumes and prices.

    Ajibola said: “At the current price of about $60.8 per barrel compared with Tinubu’s proposed $64.85, the situation is already becoming stressed. If a price war ensues, as could be triggered by increased supply from Venezuela, it will affect Nigeria’s projections for 2026.”

    On the contrary, an economist and Chief Executive Officer, Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf,   opined that the situation in Venezuela was unlikely to have any significant impact on the global oil market, particularly in the near term.

    He based his argument on the present glut being experienced in the oil market and the insignificant contribution of Venezuela to the market.

    Yusuf said: “Venezuela’s current oil output is extremely low, accounting for less than one per cent of global oil production. Years of underinvestment, operational inefficiencies, sanctions, and institutional collapse have severely weakened the country’s oil sector.

    ‘’As a result, Venezuela no longer plays a material role in influencing global oil supply dynamics. Importantly, the recent attack and the circumstances surrounding  Maduro’s capture did not damage Venezuela’s oil production infrastructure. Consequently, oil output is expected to remain broadly unchanged in the short term.”   

    Beyond Venezuela’s limited production capacity, he further argued, the global oil market is presently experiencing a supply glut. This supply cushion means that even if Venezuela were to experience some level of production disruption, it would not translate into any meaningful impact on global oil prices. Current market fundamentals, he said, are therefore resilient enough to absorb any marginal shocks from Venezuela.

    Yusuf, however, noted that the country remains strategically significant in the longer term as it holds one of the largest proven oil reserves in the world- about 18 per cent of global reserves, a resource base he argued, gives Venezuela substantial latent potential.

    “If the current political developments do not escalate into prolonged instability, and if Donald Trump follows through on indications that American oil companies could re-enter the Venezuelan oil sector, the country’s oil output could gradually recover,” the economist said.

    He added that such a turnaround would occur only in the medium to long term. Yusuf also noted that rebuilding production capacity would require significant capital investment, technical expertise, regulatory clarity, and time. Therefore, any supply boost from Venezuela would not be immediate and should not be factored into short-term oil market expectations.

    “In summary, while Venezuela’s political developments are geopolitically notable, they do not pose a short-term risk to global oil supply or prices. Any meaningful impact would depend on long-term political stability and sustained reinvestment in the country’s oil industry,” Yusuf said.

    However, in the medium to long term, the economist argued that there may be a significant increase in output, which may lead to a significant increase in supply and which may affect the global oil price.

    “But that is in the medium to long term because for now, Venezuela will be experiencing some instability. Even the investors that Trump was talking about will also be very cautious in returning to Venezuela to produce.

    “So, it will take some time for them to have that level of confidence to go to Venezuela and invest. I mean, it will also take some time, a minimum of a year. These are investors who have left the place for some time. These are investors who also want to watch the political environment and the security environment in the place. So, investors will also take their time before they go there to begin to invest in oil production; these are private investors. These are not government investors.

     However, the Organisation of Petroleum Exporting Countries (OPEC+) appears to be girding its loins. At its January 4 meeting, OPEC+ agreed to keep output steady, despite internal tensions, reinforcing expectations that 2026 will be marked by oversupply. With inventories comfortable and alternative barrels available, traders see little reason to panic. On that narrow view, oil’s muted reaction looks rational.

    Yet markets are rarely adept at pricing geopolitical risk in real time. President Trump’s threats, not only against Venezuela but also Colombia, Mexico and even Greenland, inject a level of headline risk that is hard to model but difficult to underestimate. History suggests that investors’ instinct to “keep calm and carry on” often holds until it suddenly does not.

  • China slams Trump’s plan to control Venezuela’s oil as illegal move

    China slams Trump’s plan to control Venezuela’s oil as illegal move

    China on Wednesday sharply criticised U.S. President Donald Trump’s planned intervention in Venezuela’s oil industry.

    The “outrageous use of force against Venezuela” by the United States and the demand that the country should manage its oil resources according to the “America first” principle constitute harassment, violate international law, and harm the rights of the Venezuelan people, Foreign Ministry spokeswoman Mao Ning said.

    Venezuela has full sovereignty over its mineral resources and economic activities, Mao continued, stressing that China’s rights and interests in the country must also be protected.

    China is a key ally of Venezuela and the largest buyer of the South American country’s oil.

    Read Also: Trump not planning to occupy or nation-build in Venezuela – Republican U.S. lawmakers

    In a post on his Truth Social platform on Tuesday, Trump said Venezuela’s interim government would hand over between 30 million and 50 million barrels of “sanctioned oil” to the U.S.

    The U.S. president said he would control the proceeds to ensure they were used “to benefit the people of Venezuela and the United States.”

    The U.S. attacked targets in Venezuela on Saturday, seizing authoritarian leader Nicolás Maduro and his wife Cilia Flores over alleged drug offences and removing them from the country.

    After the operation, Trump said that the U.S. would temporarily run Venezuela.

    The U.S. president had previously highlighted the economic potential of the country’s oil industry, stating that major U.S. oil companies would invest in repairing infrastructure and developing production.

    (dpa/NAN)

  • U.S. intervention in Venezuela is arrogance of power, Akinyemi, Keshi, other experts warn

    U.S. intervention in Venezuela is arrogance of power, Akinyemi, Keshi, other experts warn

    The Nigerian Institute of International Affairs (NIIA) convened a special roundtable yesterday to dissect matters arising from United States (U.S.) interventions in Venezuela and the panelists warned that the U.S. exertion of force and arrest of President Nicolás Maduro as well as his First Lady, was a clear violation of the UN Charter and set a very dangerous precedence and raises serious questions for the international order.

    The event, held at the NIIA Conference Chamber, brought together policymakers, academics, and international relations experts to examine the legal, economic, and geopolitical dimensions of the crisis. It was moderated by former External Affairs Minister Prof. Bolaji Akinyemi and NIIA Director General, Prof. Eghosa Osaghae, led the dialogue.

    Others are former Permanent Secretary at the Ministry of Foreign Affairs Amb. Joe Keshi  and Dr. Rita Agu of NIIA, Femi Ojumu, an International Policy Expert, Kayode Komolafe, a foreign policy expert and Magnus Onyibe, a public policy analyst. It also featured panellists including Professors Adele Jinadu, Femi Otubanjo, Remi Ajibewa as well as Magnus Onyibe.

    Opening the session, Prof.  Akinyemi , who is also the NIIA Chairman, emphasised the importance of analysing the crisis beyond individual leaders, stressing that when powerful states act with impunity, global norms of sovereignty, immunity, and non-intervention are weakened, creating a precarious precedent for other nations.

    He underscored the necessity for states to develop self-reliance and robust governance systems to protect their sovereignty and citizens.

    He urged participants to distinguish between individual actions and structural forces in global politics, stressing that crisis like Venezuela’s emerged from deeper international dynamics rather than the whims of a single actor.

    The panellists decried what they described as Trump’s endorsement of the philosophy of might is right, warning that such actions could set a dangerous precedent with other powerful countries, including China, North Korea and Russia following suit.

    They emphasised the importance of respecting international law and the principles of sovereignty, territorial integrity, and non-interference in domestic affairs of sovereign nation-states.

    They, however, agreed that the development was a lesson for other countries, especially African countries to properly manage their affairs, prioritise citizens’ welfare and good governance to maintain their sovereignty.

    Eghosa: we’re all endangered

    Prof. Osaghae, who led the dialogue, questioned whether the U.S. actions in Venezuela signified a new form of imperialism, emphasising that the global south, including Africa, was endangered by such actions.

    Osaghae dismissed the notion that geography and distance would prevent similar actions from happening in Africa, suggesting that imperialism could be both near and distant.

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    Calling for respect for international law and sovereignty, he said: “What is happening is sending shockwaves around the world and people are asking us some questions on what is going on? Is it a new form of imperialism?

    “From the point of view of the African Union, those of us in Africa and the rest of the global South, there are lapses. We are also being endangered because anything can happen to any of us.”

    Trump jeopardising world order, says Keshi

    To Amb. Keshi, the U.S. is known for double standards in international relations, pointing out that it now violates the laws it helped to write and had a history of interventionism.

    He argued that the U.S. has grown too powerful and emboldened, with other countries dependent on it, noting that this has led to a lack of accountability.

    Keshi emphasized the importance of countries developing their own capacity and capability to defend themselves, rather than relying on others.

    “The truth remains that as of today, nobody can stop the United States, except all countries of the world decide that they are going to quietly build up their capacity and capability so that collectively, they can deter the operations of the United States.

    Jinadu: it’s arrogance of power

    Positing that Trump’s action was an arrogance of power, Prof. Jinadu emphasized the pressing need for the Third World countries to enhance their solidarity and create a third neutral force in the world order to counterbalance the existing power dynamics.

    He advocated for strengthening the BRICS and reviving the idea of a Concert of Medium Powers to promote a more equitable global order.

    Prof. Jinadu also called for democratizing the UN Security Council by limiting the use of veto power, which he said stifles the aspirations and demands of the Third World.

    It’s collapse of rationality, says Otubanjo

    Also speaking, Prof. Otubanjo criticised the U.S. foreign policy under Trump, arguing that it has become irrational and driven by domestic politics.

    He emphasized the importance of oil in the conflict, with the US seeking to regain control of Venezuela’s oil reserves

    Otubanjo noted that the U.S. actions in Venezuela have global implications, including the potential to undermine the petrodollar and challenge the global economic order.

    Ojumu: it raises dangerous precedent for int’l law

    In his submission, Ojumu criticised the U.S. for violating international law and disregarding the sovereignty of other nations, citing examples such as the invasion of Iraq in 2003, drone strikes in Yemen and Somalia, and the capture of Venezuelan President Nicolás Maduro.

    He, therefore, proposed strategic options for the United Nations and the global community, including reforming and democratising the UN Security Council, re-emphasising effective and transparent leadership, and rejecting hegemonic approaches to foreign policy.

    U.S. driven by desire to control resources, says Komolafe

    Komolafe criticised the logic of capitalism and imperialism, arguing that the US was driven by a desire to acquire wealth and control resources, without regard for the consequences or morality.

    He warned that the US actions in Venezuela have implications for global stability and the world order, stressing that other countries may follow suit in pursuing their own interests without regard for international law.

    Agu: it is unlawful

    Speaking on the legal implications of the U.S. action, Dr. Rita Agu said: “US invasion of Venezuela or arrest of its sitting president and first lady by the United States is unlawful. The only sustainable solution lies in strict adherence to the UN Charter, respect for immunity and sovereignty, multilateralism and peaceful dispute settlement. This approach safeguards not only Venezuela but the integrity of the international legal order itself.”

    The participants agreed that the Venezuelan situation reflects a convergence of legal, political, and economic pressures that test the resilience of international norms.

    The panel advocated for adherence to the UN Charter, respect for head-of-state immunity, non-intervention, multilateral dispute resolution, and stronger regional cooperation as pathways to prevent unilateral abuse of power.

  • Trump not planning to occupy or nation-build in Venezuela – Republican U.S. lawmakers

    Trump not planning to occupy or nation-build in Venezuela – Republican U.S. lawmakers

    President Donald Trump does not plan to occupy or nation-build in Venezuela, Republican U.S. lawmakers said on Monday after attending a briefing by top officials on the administration’s policy toward the South American nation.

    “We do not have U.S. armed forces in Venezuela, and we are not occupying that country,” Republican House of Representatives Speaker Mike Johnson of Louisiana told reporters after the classified session with Secretary of State Marco Rubio, Secretary of Defense Pete Hegseth and other senior officials.

    “If anybody wants to use the term nation-building, or anything like that, it doesn’t look like anything anybody has seen under President Trump,” said Representative Brian Mast, the Republican chairman of the House Foreign Affairs Committee.

    “They are not the protracted war administration,” Mast told reporters after the briefing, which lasted more than 2-1/2 hours, when asked how he would reassure Americans they did not face another ‘endless war,’ like the 20-year conflict in Afghanistan.

    Trump sent U.S. troops into Caracas early on Saturday to seize Venezuelan President Nicolas Maduro, who pleaded not guilty earlier on Monday to narcotics charges.

    Maduro’s capture rattled world leaders, left officials in Caracas scrambling to regroup and angered some U.S. Democrats, who said Rubio and other Trump administration officials had lied to them by insisting they were not planning regime change in Venezuela.

    Sen. Chuck Schumer of New York, the Senate’s Democratic leader, told reporters Monday’s briefing had been extensive but posed more questions than it answered.

    “Their plan for the U.S. running Venezuela is vague, based on wishful thinking and unsatisfying,” he said.

    Schumer said he had not received assurances that Trump would not do the same thing in other countries.

    Republicans also left open that possibility. “There’s absolutely a continual plan to use the United States military to protect the homeland of the United States of America,” Mast said.

    The Senate is due to vote as soon as this week on whether to block further military action against Venezuela without congressional approval, a resolution co-sponsored by Schumer.

    Republicans insist the weekend operation did not require congressional approval because it was very short and involved “law enforcement” to bring Maduro to court in New York.

    Read Also: Thank God for Donald Trump

    Members of Congress, including some Republicans as well as Democrats, have long accused presidents of seeking to sidestep the Constitution’s requirement that Congress, not the president, approve anything other than brief and limited military action needed to defend the United States.

    Republicans have defeated repeated attempts to pass similar war powers resolutions since Trump four months ago sent U.S. forces to the Caribbean, where they have been firing missiles at vessels Washington says are carrying drugs.

    Trump’s administration accuses Maduro of overseeing a cocaine-trafficking network that partnered with violent groups including Mexico’s Sinaloa and Zetas cartels, Colombia’s FARC rebels, and Venezuela’s Tren de Aragua gang.

    Maduro has long denied the allegations, saying they were a mask for imperialist designs on Venezuela’s rich oil reserves.

    Trump has made no secret of wanting to share in Venezuela’s oil riches. U.S. oil companies’ shares jumped on Monday, fueled by the prospect of access to those vast reserves.

    (Reuters/NAN)

  • US denies war with Venezuela, imposes oil quarantine over security threats

    US denies war with Venezuela, imposes oil quarantine over security threats

    The United States has denied being at war with Venezuela, stating that it is instead enforcing a broad oil quarantine and targeted law enforcement actions aimed at combating drug trafficking, foreign influence, and what it describes as threats to U.S. national security.

    U.S. Secretary of State, Marco Rubio, made the clarification during a series of interviews on Sunday, according to a statement. 

    He said Washington is applying what he described as “crippling leverage” through sanctions and court-authorised seizures of Venezuelan oil shipments to pressure authorities in Caracas.

    Rubio explained that the policy followed the recent arrest of Venezuelan leader Nicolás Maduro and his wife, who were taken into U.S. custody in what he described as a limited law enforcement operation rather than a military invasion.

    According to him, the United States is enforcing a quarantine on Venezuelan oil, allowing American authorities to seize sanctioned vessels entering or leaving Venezuelan waters.

    “What we are running is the direction this is going to move,” Rubio said, stressing that the United States is not occupying Venezuela but is shaping outcomes through economic pressure.

    He accused Venezuela of becoming a hub for drug trafficking, armed gangs, and foreign actors such as Iran and Hezbollah, which he said pose a direct threat to the United States and the wider hemisphere.

    Responding to questions on the legal basis for the actions, Rubio said U.S. courts had authorised the seizures.

    Read Also: I never said US was targeting me for attacks-Gumi

    “These are sanctioned boats. We go to court, we get orders, and we seize them,” he said, adding that the operation leading to Maduro’s arrest did not require congressional approval because it was a targeted law enforcement mission.

    Rubio also rejected claims that Washington is “running Venezuela,” insisting that the U.S. is merely implementing policies designed to protect its national interests.

    He confirmed that there are no U.S. troops stationed in Venezuela, aside from a brief operation lasting a few hours during Maduro’s arrest. He added that President Donald Trump retains all military options but has not ordered an occupation or long-term deployment.

    “We are not at war with Venezuela. We are at war with drug trafficking organisations,” Rubio said.

    The Secretary of State outlined conditions under which U.S. pressure could be eased, including the dismantling of drug trafficking routes through Venezuela, the removal of Iranian and Hizballah influence, and reforms in the oil sector to ensure revenues benefit ordinary Venezuelans rather than what he described as corrupt elites.

    According to Rubio, Washington would judge Venezuelan authorities based on their actions, not public statements.

    “We are not reacting to press conferences. We are reacting to what happens,” he said.

    While confirming that Chevron remains the only U.S. oil company operating in Venezuela, Rubio said Western firms could return if meaningful reforms are implemented. He noted that U.S. Gulf Coast refineries are well suited for Venezuelan heavy crude and that a restructured oil industry could generate revenue for citizens.

    On calls for immediate elections, Rubio said such expectations were unrealistic given years of political crisis, reiterating U.S. support for a democratic transition while stressing that security and national interest concerns remain the immediate priority.

    “Our number one objective is America, but we want a better future for the people of Venezuela as well,” he said.

  • Nigeria to face Venezuela in Houston in preparation for AFCON 2025

    Nigeria to face Venezuela in Houston in preparation for AFCON 2025

    Nigeria will take on Venezuela in Houston this November as part of their final preparations for the 2025 Africa Cup of Nations in Morocco.

    The international friendly is scheduled for Friday, November 14, at the Shell Energy Stadium, marking the Super Eagles’ first-ever appearance at the venue. The fixture is regarded as a crucial tune-up before the continental showpiece kicks off in December.

    For Venezuela, it will be a swift return to Houston, where they previously settled for a goalless draw against Guatemala earlier this year. Coach Fernando Batista’s side heads into the clash on the back of an inconsistent qualifying campaign that included heavy defeats to Argentina and Colombia, leaving defensive concerns to address.

    Nigeria, meanwhile, sees the match as more than a routine international test. With World Cup qualification fixtures already concluded by then, Eric Chelle’s men will use the encounter to fine-tune tactics, test squad depth, and allow fringe players to push for AFCON selection.

    Read Also: Eaglets battle Burkina Faso, Benin in WAFU B U17 AFCON qualifiers

    The Super Eagles, who are drawn in Group C alongside Tunisia, Uganda, and Tanzania, are under pressure to deliver after finishing runners-up to Senegal in the last edition. The Houston showdown offers Chelle a final chance to experiment before the tournament begins

    The game will also revive memories of the nations’ only previous meeting in November 2012, when Nigeria triumphed 3-1 in Miami thanks to goals from Brown Ideye, Nosa Igiebor, and Ogenyi Onazi. Twelve years later, both sides will clash again on the same date—this time with preparation and fine-tuning the clear priority.

  • Venezuela enduring one of ‘worst human rights crises’, says UN

    Venezuela enduring one of ‘worst human rights crises’, says UN

    Venezuela’s authoritarian government has plunged the South American country into one of the worst human rights crises in recent history, according to a UN report published yesterday.

    “We are witnessing an intensification of the state’s repressive machinery in response to what it perceives as critical views, opposition or dissent,” said Marta Valiñas, chair of the United Nations International Independent Commission of Inquiry.

    The recent repression, due to its intensity and systematic nature, represents a serious attack on the fundamental rights of the Venezuelan people, she said.

    The Commission of Inquiry’s report, which examines the rights situation between September 2023 and August 2024, states that a “new milestone in the deterioration of the rule of law” was reached after the elections in July.

    Read Also: Senators donate N74m to Borno flood victims

    The commission said it has reasonable grounds to believe that there was persecution for political reasons during this period.

    Following a presidential election on July 28 that was tainted by allegations of fraud, the electoral authority, which is loyal to the ruling party, declared long-time President Nicolás Maduro the winner.

    The country’s opposition, supported by the United States and countries in Latin American, said there had been widespread electoral fraud and claimed victory for their candidate Edmundo González.

  • Venezuela loses $130 bn to U.S. sanctions in 3-years, $5.5bn frozen assets – Envoy

    Venezuela lost about 130 billion dollars between 2015 and 2018 as result of the economic sanctions imposed by the U.S, it was learnt.

    Venezuelan Ambassador to Nigeria, David Velasquez, said this in Abuja at a news conference on the world campaign on the support of Venezuela tagged #Trump Unblock Venezuela.

    The envoy said that $5.5 billion of his country’s financial assets were frozen by international banks which created additional burden for Venezuela.

    He said that the U.S. unilateral coercive measure called sanctions formed a systematic and conscious strategy of massive violation of the human rights of the Venezuelan people.

    The envoy said that the UN has described the measure as crimes against humanity.

    He explained that between December 2014 and April 2019, the government of U.S enacted a law and seven executive decrees to punish and penalise the Venezuelan economy.

    He said that the punishment included blocking and confiscating of financial assets, prohibiting the negotiation of Petróleos de Venezuela (PDVSA)’s debt, increase in country risk and financial costs and prohibiting operations with gold.

    Others he said are confiscating assets of Citgo Petroleum Corporation (CITGO) and assets of PDVSA, sanctions on oil trade, sanctions against the Central Bank of Venezuela and fines and administrative penalties for trade.

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    According to him, the effects and impact of the economic blockade on the economy and the Venezuelan people is hurting most vulnerable.

    He said most of the assets confiscated were resources to buy food and medicine, raw material equipment for the industry in Venezuela.

    According to him, as at April 30 funds withheld, frozen of confiscated by international banks amounted to 5.47billion dollars.

    “In October 2017 the Swiss Bank, UBS, blocked the payment of resources intended for the purchase of vaccines. This caused delay of four months in the vaccination programmes, severely affecting the Venezuelan population.

    “In 2017, the international bank blocked the payment of $9 million intended for the acquisition of supplies for dialysis; this action affected the treatment of 15,000 hemodialysis patients.

    “Between 2017 and 2018 Bank of Europe and U.S prevented financial operation of the government of Venezuela to the tune of $300 million intended for the purchase of food,” he said.

    The ambassador said the U.S. attack was not only against Venezuela alone but against the international community and also crimes against humanity.

    The envoy who said that the Latin American people were equally under attack by the U.S. expressed confidence that Venezuela would defeat the U.S. action.

     

  • Osun to team up with Venezuela, Israel, others on economy

    THE Osun State government has unveiled plans to strengthen its economy by creating an enabling environment for business and investment to thrive.

    Governor Adegboyega Oyetola stated this on Wednesday when he received the Venezuela Ambassador to Nigeria, Mr. David Nieves Valasquez-Caraballo; envoys from Israel, Cuba, Cote d’Ivoire and Republic of Benin.

    The envoys, who were received on behalf of the governor by Chief of Staff Dr. Charles Diji Akinola and Secretary to the State Government (SSG) Mr. Oluwole Oyebamiji, were among those on a two-day visit to

    Osogbo, the state capital, to attend the International Agriculture Technology Exhibition and Conference tagged “First Agrictech Nigeria”.

    The conference was organised to explore business opportunities in agriculture and to expand the sector.

    Apart from Mr. Valasquez-Caraballo; Cuban Ambassador to Nigeria, Mr. Carlos Trejo Sosa was represented by the Deputy Head of Mission, Ms. Leydis Bernal Suarez; Israeli Ambassador to Nigeria, Mr. Pear Duchi, was represented by Mr. Madu Chibueze, among others.

    Speaking on behalf of the governor, Akinola said Osun remained resolute to maximise its potentials for greater productivity.

    He said his administration is committed to enhancing Public Private Partnership, thus creating workable environment for business to grow.

    Oyetola said the state is open for business and had mapped out modality to facilitate local and foreign partnership for positive changes across all sectors.

    He added: “We have just had a meeting with ambassadors, who have come to our state to discuss myriads of business opportunities and explore their potentials as regards the need to strengthen bilateral relationship.

    “This administration is giving priority to agriculture, mining, tourism, information and communication technology among others, to ensure proper diversification of the economy.

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    “We had a very fruitful session with them; we have reached a compromise on the need to expand the window of business opportunity, particularly in the areas of agriculture, mining, tourism, science and technology.

    “They have shown interest to partner the state in these areas to ensure that Osun achieves her goals.

    The Venezuelan Ambassador said his country was ready to collaborate with the Osun state government to promote agriculture, mining and tourism.

    Valasquez-Caraballo, who described the agriculture exhibition as fruitful, rewarding and adventurous, said no effort would be spared to partner Osun towards actualising its set objectives.

    He said: “We have come to Osun to deliberate on some of the areas in, which we can collaborate and strengthen bilateral relationship.”