Venezuela is hoping a major new agreement with the United States can transform its vast oil wealth into economic recovery, jobs and better public services.

The deal marks a significant expansion of the US role in Venezuela’s oil industry, with Washington seeking to revive production and secure additional crude supplies for American refineries. Venezuela, which holds the world’s largest proven oil reserves, has seen its production remain far below its potential after years of sanctions, underinvestment and mismanagement.

Venezuelan officials say the agreement could generate major revenue for housing, healthcare, schools, roads, electricity, water infrastructure and earthquake reconstruction. The government also says foreign companies will provide capital, technology and expertise while Venezuela retains ownership of its oil resources.

But ordinary Venezuelans remain cautious. Many say they have heard promises before and want to see oil revenues translated into better wages, functioning public services, infrastructure and direct improvements to everyday life.

Venezuela-US Oil Deal: Can Trump’s Energy Push Revive Venezuela’s Economy?

US President Donald Trump on Monday (Dec 22) openly suggested that it would be "smart" for Nicolás Maduro to step down, accidentally lending weight to what the Venezuelan President has been claiming for months: the US is looking for regime change in Caracas. Trump's statement comes as Washington continues to tighten its pressure campaign with a naval blockade targeting Venezuela's oil shipments.Also read | <a href="https://www.wionews.com/world/trump-announces-trump-class-warships-breaking-this-decades-old-us-military-tradition-1766453467061">Trump announces 'Trump-class' warships, breaking THIS decades-old US military tradition</a><h2>What did Trump say?</h2>Speaking to reporters at his Florida residence, Trump was asked whether the growing US military presence and threats were aimed at forcing Maduro out of office after more than a decade. "That's up to him, what he wants to do," Trump said. "I think it would be smart for him to do that." He followed the comment with a warning, saying that if Maduro chose to "play tough," it would be "the last time he's ever able to play tough."He also suggested that the United States could keep and maybe even sell the oil it had seized off the coast of Venezuela in recent weeks, adding that America would also keep the seized ships. "Maybe we will sell it, maybe we will keep it," Trump said, adding it could be used to restock America's strategic reserves.<h2>Maduro claps back at Trump</h2>Maduro responded within hours, dismissing Trump’s comments and urging the US president to focus inward. In a speech broadcast on state television, the Venezuelan leader said Trump would be "better off" addressing economic and social challenges at home instead of threatening another country. "He would be better off in his own country on economic and social issues, and he would be better off in the world if he took care of his country's affairs," said Maduro.&nbsp;Also read | <a href="https://www.wionews.com/photos/house-democrats-drop-epstein-photos-from-disturbing-paedophilic-lolita-quotes-on-bosoms-to-price-tag-for-girls-shocking-pics-reveal-bill-gates-1766131614452">Epstein files: Disturbing paedophilic quotes on bosoms to price tags for girls, here's what shocking new pics reveal</a>

Trump said it would be “smart” for Venezuela’s Nicolás Maduro to step down, as the US tightens a naval blockade on Venezuelan oil. He warned Maduro not to “play tough” and hinted Washington could keep or sell seized oil. Maduro fired back, accusing Trump of chasing regime change.

US President Donald Trump on Monday (Dec 22) openly suggested that it would be "smart" for Nicolás Maduro to step down, accidentally lending weight to what the Venezuelan President has been claiming for months: the US is looking for regime change in Caracas. Trump's statement comes as Washington continues to tighten its pressure campaign with a naval blockade targeting Venezuela's oil shipments. Also read | Trump announces 'Trump-class' warships, breaking THIS decades-old US military tradition What did Trump say? Speaking to reporters at his Florida residence, Trump was asked whether the growing US military presence and threats were aimed at forcing Maduro out of office after more than a decade. "That's up to him, what he wants to do," Trump said. "I think it would be smart for him to do that." He followed the comment with a warning, saying that if Maduro chose to "play tough," it would be "the last time he's ever able to play tough." He also suggested that the United States could keep and maybe even sell the oil it had seized off the coast of Venezuela in recent weeks, adding that America would also keep the seized ships. "Maybe we will sell it, maybe we will keep it," Trump said, adding it could be used to restock America's strategic reserves. Maduro claps back at Trump Maduro responded within hours, dismissing Trump’s comments and urging the US president to focus inward. In a speech broadcast on state television, the Venezuelan leader said Trump would be "better off" addressing economic and social challenges at home instead of threatening another country. "He would be better off in his own country on economic and social issues, and he would be better off in the world if he took care of his country's affairs," said Maduro. Also read | Epstein files: Disturbing paedophilic quotes on bosoms to price tags for girls, here's what shocking new pics reveal

Trump said it would be “smart” for Venezuela’s Nicolás Maduro to step down, as the US tightens a naval blockade on Venezuelan oil. He warned Maduro not to “play tough” and hinted Washington could keep or sell seized oil. Maduro fired back, accusing Trump of chasing regime change.

Trump says it'll be 'smart' if Maduro steps down, accidentally confirms Venezuela Prez's biggest fear: US wants a regime change

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Venezuela-US Oil Deal: Can Trump’s Energy Push Revive Venezuela’s Economy?

Trump accidentally confirms Maduro's biggest fear: US wants a regime change