President Donald Trump today announced the US would now assume control of Venezuela’s oil exploration and sales following the capture of Venezuelan president Nicolas Maduro.
This is the latest expression of America’s ambitions for resource-rich territories, including Greenland’s vast deposits of rare earth minerals. The White House has openly discussed options to acquire the Danish autonomous territory, including the potential use of military force.
Trump’s Venezuelan Entry
U.S. special forces raided Caracas on January 3, 2026, and captured Maduro. Officially justified as an arrest for narcoterrorism charges, the operation has been framed by Trump administration officials as a means to secure Venezuela’s massive oil reserves the largest in the world and curb Chinese influence in the region.
True to form, Trump announced that Venezuela would turn over 30 to 50 million barrels of sanctioned oil to the U.S., with proceeds under American control, signaling a direct economic benefit with proceeds to be controlled by Trump himself. Commerce Secretary Howard Lutnick emphasized the country’s “critical minerals” potential, highlighting Venezuela’s untapped mining sector as a boom for U.S. tech and AI industries.
Trump has also sought to revive his long-standing interest in Greenland, an Arctic island rich in rare earth elements essential for electronics, renewable energy, and defense technologies. Greenland’s deposits include an estimated 12.3 million metric tons of lanthanides, rivaling U.S. reserves and positioning it as a key asset in the global race for minerals dominated by China.
Greenland Case
Trump, who first floated purchasing Greenland during his initial term, reiterated on January 4 that the U.S. “needs Greenland from the standpoint of national security,” citing its strategic location astride the GIUK gap and proximity to emerging Arctic trade routes amid climate change. White House statements have not ruled out military intervention, echoing the Venezuela playbook and prompting fears of NATO’s collapse, as Denmark is a founding member.
European leaders have reacted with alarm. Denmark has rebuffed offers, labeling them “absurd,” while French and Spanish officials expressed concern over the precedent set by Venezuela.
Analysts view these actions as part of Trump’s “drill, baby, drill” strategy to counter China’s mineral dominance. Trump has appointed Louisiana Governor Jeff Landry to lead negotiations on Greenland, but classified briefings indicate a preference for a purchase or “compact of free association” over invasion.
