President Trump said the United States wanted to reclaim expropriated oil assets, setting off a nationalist reaction in a country where the resource holds a mythical status.
Derricks in the Maracaibo oil fields of Venezuela in the early 20th century. American oil companies invested millions of dollars in the region, generating profits that flowed to the United States, rather than Venezuela.
The move is an escalation of military operations and a pressure campaign against Nicolás Maduro, Venezuela’s leader. But its scope and economic impact are not clear.
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