As President-elect Donald Trump prepares to take office for his second term, American oil tycoons and bond investors are calling on him to abandon the maximum pressure policy against Venezuelan President Nicolas Maduro pursued during his first term. Instead, they propose a deal: more oil in exchange for fewer migrants.
Report informs citing The Wall Street Journal that some businessmen are trying to demonstrate to the new administration the benefits of negotiating with Maduro rather than attempting to overthrow him. Last week, a shipment of Venezuelan asphalt supplied by Global Oil Terminals, part of a Florida-based conglomerate, arrived at the Port of Palm Beach, just miles from Trump's Florida residence. This marked the first delivery of asphalt from Venezuela to the port since the Trump administration imposed oil sanctions in early 2019.
The shipment, made possible by a license issued by the Treasury Department under President Biden allowing some oil companies to resume operations in oil-rich Venezuela, underscores the arguments of those advocating for a policy shift. They contend that a deal with Maduro would reduce migration and help curb energy prices in the United States.
"It is indisputable that the resumption of high-quality, affordable Venezuelan asphalt supplies to the US has benefited American taxpayers," said Harry Sargeant IV, president of Global Oil Terminals.
Maduro himself has hinted at a reset in relations with Washington. "In his first government, we didn't get along so well with President-elect Donald Trump," he said in a recent televised address. "This is a new beginning, so let's bet on a win-win scenario."
Several American businessmen who traveled to Caracas this year and met with Maduro and his inner circle say the Venezuelans were convinced of Trump's victory in the US election and that he would engage with Maduro.