World
Trump announces plan to sell Venezuelan oil as US signals it is in talks with Caracas
President Donald Trump on Tuesday unveiled a plan to refine and sell up to 50 million barrels of Venezuelan oil that had been stuck in Venezuela under U.S. blockade, in a further sign that Washington is coordinating with the Venezuelan government since capturing President Nicolas Maduro.
Maduro is in a New York jail awaiting drug charges after the Saturday morning raid that the U.S. estimates killed about 75 people, according to a Washington Post report citing officials familiar with the matter, Reuters reported.
The U.S. has yet to report a death toll from an operation that reasserted U.S. willingness to intervene in Latin America with perhaps its most dramatic military operation since the 1989 invasion of Panama that seized Panamanian leader Manuel Noriega.
Nor has Caracas given a number for those killed, but the army posted a list of 23 names of its dead. Venezuelan officials have said a large part of Maduro’s security contingent was killed “in cold blood,” and Cuba has said 32 members of its military and intelligence services in Venezuela were killed. Venezuela’s interim President Delcy Rodriguez on Tuesday declared a week of mourning for members of the military killed in the raid.
The operation brought condemnation from Russia, China and Venezuela’s leftist allies, while allies of the United States have urged adherence to international law.
Maduro, 63, pleaded not guilty on Monday to narcotics charges. He said he was a “decent man” and still president of Venezuela, while standing in a Manhattan court shackled at the ankles and wearing orange and beige prison garb.
US TO TAKE VENEZUELAN OIL
While Venezuela’s political future remains uncertain amid U.S. claims that it will be running the South American country, for now Trump appears to be working with Rodriguez and other senior officials from Maduro’s government, disappointing the opposition that had hoped to play a larger role.
Trump on social media announced that Venezuela would sell 30 million to 50 million barrels of sanctioned oil that would be shipped directly to the United States under a plan to be executed immediately by Energy Secretary Chris Wright.
“This Oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States!” Trump said. Based on recent prices for Venezuelan oil, the deal could be worth up to $1.9 billion.
U.S. officials have yet to outline a legal framework for seizing Venezuelan oil, though the U.S. has accused Venezuelan tankers of breaking U.S. sanctions to ship Iranian and Venezuelan oil.
Trump has also suggested the U.S. would help rebuild the country’s oil infrastructure to benefit oil majors such as Exxon Mobil and ConocoPhillips which were affected by a Venezuelan oil nationalization by former President Hugo Chavez, and Chevron Corp which has continued to operate there.
U.S. oil chief executives are expected to visit the White House as early as Thursday to discuss investments in Venezuela, according to three sources familiar with the planning.
VENEZUELA OPPOSITION SEEKS ROLE
With the U.S. as its main ally, Venezuela would become the energy hub of the Americas, restore the rule of law, open markets and bring home exiles, opposition leader and Nobel Peace Prize winner Maria Corina Machado said in an interview on Monday with Fox News.
Trump has, however, been told by the CIA that Rodriguez and other senior officials from Maduro’s government are the best bet to maintain stability, sources said. The classified assessment was one reason why Trump decided to back Rodriguez instead of opposition leader Machado, the sources said.
Machado, who said she wants to return to Venezuela to lead the country, said Rodriguez was “nothing like a moderate,” and had been one of the main architects of Venezuelan repression.
“I think it’s evident the United States has instructed her to take certain actions regarding further dismantling of the criminal structure as a path forward towards a complete transition to democracy in Venezuela,” Machado told CBS News in a separate interview on Tuesday.
The Trump administration has put hardline Interior Minister Diosdado Cabello on notice that he could be at the top of its target list unless he helps Rodriguez meet U.S. demands and keep order, according to three people familiar with the matter.
Cabello, who controls security forces accused of widespread human rights abuses, is one of a handful of Maduro loyalists that Trump has decided to rely on as temporary rulers to maintain stability during a transition period, said one source briefed on the administration’s thinking. Cabello has been on the streets of Venezuela, patrolling with security forces.
“Always loyal, never traitors. Doubt is betrayal!” they chanted in one of several overnight social media posts by the Venezuelan government.
The U.S. is also pressuring the interim Venezuelan government to expel official advisers from China, Russia, Cuba and Iran, the New York Times reported, citing anonymous U.S. officials. Secretary of State Marco Rubio listed the Trump administration’s demands in a classified meeting on Monday with senior congressional leaders, the Times said. Reuters could not immediately verify the report.
Since the seizure of Maduro, Venezuelan authorities have ordered the arrest of anyone who collaborated.
Fourteen media workers were briefly detained covering events in Caracas on Monday, and shots were fired on Monday night into the sky above the city, which a Venezuelan official said came from police to deter unauthorized drones.
“There was no confrontation, the entire country remains completely calm,” Vice Minister of Communications Simon Arrechider told reporters.
World
Trump says he does not regret Iran war despite potential impact on midterm elections
U.S. President Donald Trump says he does not regret launching the war against Iran, despite its potential impact on the November midterm elections.
In an interview with Fox News host Laura Ingraham, Trump said that if given the choice again, he would take the same course of action, adding that he does not believe in the word “regret.”
Trump also dismissed suggestions that some of his supporters had become upset or demoralized over the war, saying they were proud that he was preventing Iran from obtaining a nuclear weapon.
He also reiterated his claim that the war would end immediately after the midterm elections, saying, “It ends right after the election.”
The conflict and the resulting rise in oil and gas prices have become a major political issue for Republicans ahead of the elections.
The United States and Israel launched attacks on Iran on February 28, while Iran responded with strikes on Israel and Gulf states hosting U.S. military bases. The fighting has reportedly killed thousands and displaced millions.
Trump has cited the weakening of Iran’s nuclear capabilities as one of the main objectives of the war. Iran, however, says its uranium-enrichment program is peaceful and maintains that it does not possess nuclear weapons.
World
Trump touts $5,000 payout if Republicans win as Vance waits in wings
It was not immediately clear how the $5,000 payments would work or whether they would be legal. The proposal would likely cost more than $1 trillion, with approximately 270 million U.S. adults, and could require the approval of Congress.
President Donald Trump capped the first day of his Republican Party’s first-ever midterm convention by proposing to pay every U.S. adult a $5,000 “Trump dividend” if his party wins November’s congressional elections.
Trump delivered the extraordinary overture during a primetime speech that lasted nearly two hours and firmly placed him at the center of the midterm campaign at a time when his sagging approval ratings could weigh on Republicans’ chances, Reuters reported.
Vice President JD Vance will give the keynote address on Thursday night, though Trump is scheduled to make closing remarks to bring the made-for-television two-day event in Dallas to an end.
With Trump constitutionally barred from seeking a third term, Vance’s speech could serve as an early audition for the 2028 presidential election and offer clues about how he would lead a party reshaped by Trump.
It was not immediately clear how the $5,000 payments would work or whether they would be legal. The proposal would likely cost more than $1 trillion, with approximately 270 million U.S. adults, and could require the approval of Congress.
The convention’s focus on Trump – some Republicans have dubbed it “Trumpapalooza” – amounts to a risky bet that he can mobilize the voters who carried him to the presidency two years ago, despite opinion polls showing his popularity is at an all-time low.
But it remains to be seen whether his campaign-style speech will appeal to the critical swing voters who have drifted away from Trump’s party amid growing dissatisfaction with the cost of living and the war on Iran.
‘PRETEND THAT I’M ON THE BALLOT’
“I’m asking you to pretend that I’m on the ballot,” Trump said, a line that may have pleased Democratic campaign strategists just as much as MAGA voters.
Republican efforts got a boost from an unlikely source on Wednesday, when Democratic U.S. Senator John Fetterman appeared in a pretaped video segment introducing his “great friend,” fellow Pennsylvania Senator Dave McCormick, a Republican.
Fetterman said he would always “reject the extremes in socialism,” a comment that is likely to bolster Republican attacks on Democrats as too left-wing. Fetterman, who has increasingly broken with his fellow Democrats, has nevertheless rejected speculation that he might leave the party.
Some vulnerable Republicans in tough races, perhaps mindful of tying themselves too closely to the unpopular Trump, elected to skip the affair, including Senator Dan Sullivan of Alaska and Senator Susan Collins of Maine.
DEMOCRATS PORTRAYED AS ‘SOCIALISTS’ AND ‘COMMUNISTS’
While Republican officials had described the convention as an opportunity to tout Trump’s policies, most speakers focused on attacking Democrats as extreme on topics such as transgender women in sports and border security – political red meat for core Trump supporters.
Alabama state Representative Ernie Yarbrough, a convention attendee, said Trump needs to give voters a clearer sense of how long the war in Iran could last.
“People want to feel like we’re not getting stuck in an endless cycle,” he said.
Trump defended his decision to attack Iran, saying he acted to prevent Tehran from developing a nuclear weapon. He also promised that oil prices would drop “as soon as we win the war with Iran,” which he vowed would happen soon.
But the conflict shows little sign of ending more than six months after the U.S. and Israel launched strikes on Iran, and analysts have said Iran’s nuclear program has not been eliminated. Iran denies seeking a nuclear weapon.
Before Trump took the stage, a parade of speakers called Democrats “socialists” and “communists,” echoing one of Trump’s favorite attack lines. Democrats are “dangerous, radical and weird,” said Senator Tim Scott of South Carolina, the chairman of the party’s Senate campaign arm.
The stakes are high for both parties. With the elections less than two months away, Republicans face the prospect of losing control of at least one chamber of Congress, with public polling showing Democrats more motivated to vote and Trump’s approval ratings deeply underwater.
World
US Treasury ratchets up pressure on Iran with sweeping new aviation sanctions
Treasury Secretary Scott Bessent last week warned that airlines were possible sanctions targets along with digital assets and the maritime industry.
The United States on Tuesday issued 36 Iran-related sanctions targeting the country’s aviation sector and other companies as part of a broad push to escalate economic pressure on Tehran as the war in the Middle East has moved into a seventh month, Reuters reported.
The U.S. Treasury Department said the action was aimed at grounding Iran’s Mahan Air, which was already sanctioned by the U.S. and the European Union, and expanding sanctions to all other Iranian airlines. The sanctions also took aim at covert front companies, cargo handlers, foreign intermediaries and deceptive trans-shipment routes that Washington says Iran relies on to obtain U.S.-origin aircraft and sensitive technology.
The Treasury instructed financial institutions to report any procurement networks supporting Iran’s aviation industry, while designating firms in Turkey, the United Arab Emirates, Malaysia and Kazakhstan that it said had helped Iran’s airlines operate and Tehran acquire U.S.-origin aircraft and sensitive technology.
Treasury’s Office of Foreign Assets Control also suspended three Iran-related aviation authorizations that allowed overflights and permitted non-U.S. airlines to fly U.S.-origin or U.S.-controlled commercial aircraft into Iran.
Miad Maleki, a former senior Treasury official and fellow at the Foundation for Defense of Democracies, said the suspension would hit air traffic from Dubai, Doha and Istanbul, shutting Tehran’s main gateways to regional trade and finance. OFAC’s action also closes previous carve-outs that allowed transport of safety parts, fuel and emergency repairs, he said.
Tuesday’s actions marked a sharp escalation of the Trump administration’s renewed push to squeeze Iran’s economy and pressure Tehran to loosen its chokehold on the Strait of Hormuz. A U.S. naval blockade and tougher sanctions are curbing Iran’s oil exports, restricting access to foreign currency and exposing growing strains in the economy.
Treasury said any foreign firm or individual aiding Iranian airlines through aircraft transfers, cargo services or general sales agent support would face serious consequences.
Treasury Secretary Scott Bessent last week warned that airlines were possible sanctions targets along with digital assets and the maritime industry.
”Under Operation Economic Outcast, we promised severe consequences for those providing financial lifelines to the Iranian regime,” Bessent said in a statement on Tuesday. “Let this be a warning to anyone doing business with Iran’s remaining airlines, all of which we sanctioned today: You are at risk of being cut off from the global financial system.”
On Tuesday, Treasury designated 27 Iranian airlines, as well as several firms based in Turkey and the United Arab Emirates for helping Mahan Air secure at least three Boeing B-777 aircraft this summer that had been retired elsewhere, read the report.
It hit UAE-based Egyptian citizen Ibrahim Ali Mohamed Mohamed Mahran, the chief executive of ECT Aviation Support, as well as the British unit of the firm.
OFAC also imposed sanctions on two firms based in Turkey and Malaysia that it said had serviced Mahan Air’s international flights and coordinated cargo shipments.
The U.S. Treasury has repeatedly targeted global networks supporting Mahan Air. In July, Treasury designated six entities and individuals in China, India, Russia and Iran, including several firms that act as sales agents for the airline. Washington first sanctioned Mahan in 2011 over support it provided to Iran’s Islamic Revolutionary Guard Corps.
In 2020, Washington imposed sanctions on a China-based company it accused of acting on behalf of Mahan Air.
Brett Erickson, managing principal of Obsidian Risk Advisors, said the latest moves were significant.
“The United States is using sanctions to effectively blockade Iran’s aviation sector from the rest of the world,” he said. “That represents a major expansion of the economic war, with foreseeable consequences for civilian travel, commerce, supply chains and Iran’s ability to sustain their strained economy.”
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