Washington: US President Donald Trump said on Friday that he intends to visit Venezuela, while reaffirming his support for its interim leader and announcing a major shift in US policy on Venezuelan oil.

Trump told reporters that he is planning a trip to Venezuela, though no dates have yet been set. His remarks come amid significant changes to US oil sanctions and follow a visit to Caracas earlier this week by US Energy Secretary Chris Wright.

On Friday, the US Treasury Department’s Office of Foreign Assets Control (OFAC) issued two general licences allowing major energy firms to operate in Venezuela’s oil and gas sector. One licence permits companies such as Chevron, BP, Eni, Shell and Repsol to resume operations there, while the other allows global firms to negotiate investment contracts with Venezuela’s state‑owned oil company, PDVSA, subject to individual approvals.

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Under the new framework, payments for oil royalties and taxes must be routed through a US‑controlled fund, reflecting Washington’s effort to manage Venezuela’s energy revenues as part of a broader political and economic strategy. Transactions involving entities linked to countries such as China, Iran or Russia remain prohibited.

The easing of sanctions comes as Venezuela seeks to rebuild its oil industry following years of decline. Its production, which fell to historic lows in recent years, has begun recovering but remains below earlier peaks.

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Trump’s comments and the sanction relief mark a notable policy shift as the United States aims to strengthen economic ties and encourage foreign investment in Venezuela’s petroleum sector, signalling closer US involvement in the country’s future energy landscape.