President Donald Trump revealed a major new development in U.S. foreign policy Saturday, announcing that the United States is now pulling “tremendous amounts of oil” from Venezuela while signaling that dramatic political change could soon come to Cuba.
Speaking at the Shield of the Americas Summit in Florida, Trump outlined what he described as a historic shift in Latin America, highlighting new economic cooperation with Venezuela and growing pressure on Cuba’s longtime communist regime.
The remarks come as the Trump administration continues reshaping American policy across the Western Hemisphere while maintaining its global focus on the escalating conflict with Iran.
U.S. Oil Companies Now Expanding in Venezuela
Trump told leaders gathered at the summit that the United States is already seeing major economic benefits from Venezuela’s newly stabilized government following the removal of former dictator Nicolás Maduro earlier this year.
According to the president, the U.S. has been working closely with Venezuela’s new leadership, led by President Delcy Rodríguez, and American energy companies are now deeply involved in the country’s oil production.
“We’re taking out tremendous amounts of oil,” Trump said. “The big oil companies are in there now, and they’re doing very well.”
Trump added that the surge in production has dramatically boosted Venezuela’s economy while also benefiting the United States.
“They’re making more money now than they’ve ever made in the history of their country,” he said.
The development marks a dramatic turnaround for Venezuela, which for years suffered economic collapse, political turmoil, and declining oil output under the previous regime.
Historic U.S.–Venezuela Gold Deal Announced
In addition to expanding oil production, Trump also revealed that the United States has formally recognized Venezuela’s new government and finalized a major mineral trade agreement.
The agreement allows the two nations to cooperate on the sale of Venezuelan gold and other valuable minerals.
The deal centers on Minerven, Venezuela’s state-owned gold mining company, and is designed to bring the country’s natural resources back into the global marketplace.
However, the Trump administration placed strict limits on who can participate in the deal.
Companies and individuals tied to Iran, Russia, North Korea, or Cuba are barred from doing business with Minerven, according to new rules issued by the U.S. Treasury Department.
The move is widely seen as part of Washington’s broader strategy to limit the influence of hostile regimes in Latin America while strengthening partnerships with democratic allies.
Trump Sends Warning to Cuba’s Communist Government
While celebrating the economic progress in Venezuela, Trump also turned his attention to Cuba, delivering one of his strongest warnings yet to the island’s communist leadership.
According to the president, Cuba is facing growing economic pressure and may soon be forced to negotiate major reforms.
“Cuba is at the end of the line,” Trump said. “They have no money. They have no oil. They have a bad philosophy and a regime that has failed for a long time.”
For decades, Cuba relied heavily on subsidized oil shipments from Venezuela to keep its economy afloat. But Trump said that arrangement has collapsed as Venezuela undergoes political change.
“They used to get oil from Venezuela,” Trump explained. “But that’s not happening anymore.”
The president suggested the shift could lead to significant political changes on the island in the near future.
Talks Already Underway With Cuban Officials
Trump also revealed that negotiations with Cuba may already be underway.
According to the president, Cuban representatives are currently in discussions with Secretary of State Marco Rubio and other American officials.
“They’re negotiating with Marco and myself,” Trump said. “And I think a deal could happen very easily.”
Trump added that while the current Cuban regime may be nearing its end, the country itself could enter a new and more prosperous era if reforms take place.
“Cuba is in its last moments the way it is now,” he said. “But it could have a great new life.”
Latin American Leaders Ask Trump to Address Cuba
The comments came during the Shield of the Americas Summit, where leaders from across the Western Hemisphere gathered to discuss regional security, economic cooperation, and democratic governance.
The U.S. State Department described the summit as a meeting of “like-minded allies committed to promoting freedom, security, and prosperity across the Americas.”
Trump said several leaders at the summit privately asked him to take a stronger stance against Cuba’s communist government.
“Some of them came up to me and said, ‘Could you do us a favor and take care of Cuba?’” Trump told the crowd.
“I said, we’ll take care of it.”
The remark drew applause from attendees, highlighting growing regional frustration with the Cuban regime.
Trump Says Iran Remains Top Global Priority
While discussing developments in Latin America, Trump emphasized that America’s immediate global focus remains on Iran amid rising tensions in the Middle East.
However, the president made clear that the United States will continue working with allies across the Western Hemisphere to promote stability, economic growth, and democratic leadership.
For supporters of the administration’s foreign policy strategy, the recent developments in Venezuela could mark one of the most significant geopolitical shifts in the region in decades.