Trump says he’s canceled attacks on Venezuela, touts $100bn oil investment
US President Donald Trump delivers a speech at the House Republican Party (GOP) member retreat at the Kennedy Center in Washington, DC, on January 6, 2026.
Mandel Ngan | Afp | Getty Images
President Donald Trump announced that he has decided to cancel a planned military attack on Venezuela, citing positive collaboration between the two nations in rebuilding the country’s oil and gas infrastructure.
In a post on Truth Social on Friday, Trump praised Venezuela for releasing a significant number of political prisoners, calling it a “very important and smart gesture.”
Trump stated, “Because of this cooperation, I have called off the previously anticipated second wave of attacks, as it seems unnecessary. However, our military forces will remain in position for safety and security reasons.”
The military operation in Venezuela led to the arrest of President Nicolas Maduro and his wife, who are facing drug trafficking charges and have denied any wrongdoing.
Following the release of prisoners, Trump emphasized the focus on Venezuela’s energy resources, with plans for over $100 billion in investments by major oil companies. He mentioned a meeting with representatives from U.S. oil giants scheduled at the White House.
Chevron is currently the sole major oil company operating in Venezuela.
This is a developing news story. Please check back for updates.
