In a dramatic geopolitical reversal on Saturday, January 31, 2026, President Donald Trump officially declared that he would « welcome » Chinese investment in Venezuela’s oil industry, a country whose economy is struggling to recover after the brutal ouster of Nicolás Maduro on January 3 during the US military operation « Absolute Resolve. »
While China was the main financial backer of the deposed regime, its diplomacy had been highly critical of the capture of the socialist leader; However, aboard Air Force One, Donald Trump brushed aside these tensions, stating that « China would do excellent business on oil » and that it was welcome to conclude major agreements under the new Caracas era.
This openness comes at the very moment when Venezuela, holder of the world’s largest crude oil reserves, has just ratified a historic legislative reform dismantling the nationalist model inherited from Hugo Chávez to authorize exploitation and marketing by 100% private and foreign capital.
Regional dynamics are already accelerating, as interim president Delcy Rodríguez concluded a strategic cooperation agreement with Indian Prime Minister Narendra Modi on Friday, encompassing not only energy but also the pharmaceutical and technology industries.
By encouraging Beijing to join India and major American companies like Chevron—which are already planning over $100 billion in investments—the Trump administration seems to want to transform Venezuela into a vast global energy hub, preferring the stability of an open market to direct confrontation with its Asian rivals in South America.