The Daily Trump Goes After Venezuela’s Oil
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Dec 24, 2025 
Anatoly Kurmanaev, a New York Times foreign correspondent, delves into the Trump administration's strategy shift regarding Venezuela's oil industry. He discusses how the U.S. moves from military actions to economic pressure, aiming for regime change by targeting oil revenue. Kurmanaev also highlights the seizure of tankers, the role of Chevron, and the impact on Venezuelan citizens. He considers the reasons behind the heightened enforcement and the potential for diplomatic negotiations, revealing the complex geopolitical landscape surrounding Venezuela.
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Oil Market Stability Enabled Escalation
- Fear of upsetting global oil markets previously limited enforcement of sanctions.
- Muted price effects recently gave the U.S. cover to escalate actions against Venezuelan oil.
Chevron's Role Adds Policy Contradiction
- Chevron remains in Venezuela under agreements to split output with the government and keep fields from falling to rivals.
- The U.S. tolerates this because it fears Chinese control if Chevron withdraws.
Economic Shock Risks Reversing Recovery
- Seizures have already sharply reduced Venezuelan oil exports and revenue.
- The economic shock threatens to reverse fragile improvements Venezuelans had begun to feel.