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Key Facts Key Background In September, the Trump administration began a campaign of striking boats in the Caribbean it claims are involved in drug trafficking. At least 65 people have been killed in these strikes, which have since expanded to targets in the Pacific Ocean, as well. The U.S. military has also steadily increased its troop presence in the Caribbean, and now has stationed about 10,000 troops in Puerto Rico or on ships off the coast of Venezuela. The Trump administration in October also authorized the CIA to conduct covert operations in the country. The Miami Herald first reported the Trump administration was considering land strikes on Venezuela last week, but the president quickly denied the strikes would happen. Who Is Interested In Venezuela’s Oil? Venezuelan opposition leader and recent Nobel Peace Prize winner Maria Corina Machado met with business interests for “informal conversations” about the future of the country, Semafor reported citing people familiar with the meetings. The increased attention on Venezuela, whose economy has long been relatively closed during Maduro’s 12 years in power, comes due to the Trump administration’s “hawkish approach” to the nation, according to a research document cited by the outlet. At least some investors were interested in Venezuela’s oil reserves, according to the report. Venezuela has the largest proven oil reserves in the world, according to the Energy Information Administration, which estimates its size at 303 billion barrels. Further Reading
