'We will take all the oil': US reveals plan for Venezuela; what are the 3 phases?

US secretary of state Marco Rubio on Wednesday said the United States has a "three-fold process" planned for Venezuela following the removal of its leadership Nicolás Maduro, saying Washington is moving ahead "to execute a deal to take all the oil" that is stuck in the country.

US Secretary of State Marco Rubio on Wednesday outlined what he described as a “three-fold process” for Venezuela following the removal of President Nicolás Maduro.

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"We have a three-fold process in Venezuela," Rubio told reporters after briefing lawmakers on Capitol Hill. He said the first phase would focus on stabilising the country to prevent chaos.

"Step 1 is the stabilisation of the country; we don't want it descending into chaos. Part of that stabilisation, and the reason why we understand and believe that we have the strongest leverage possible is our quarantine. Two more ships were seized today. We are in the midst right now and about to execute on a deal to take all the oil - they have oil that is stuck in Venezuela. They can't move it because of our quarantine and because it's sanctioned," he said.



Rubio said the US is preparing to take between 30 and 50 million barrels of Venezuelan oil that remains stranded due to sanctions.

"We are going to take between 30 and 50 million barrels of oil. We are going to sell it in the market place at market rates, not at the discounts Venezuela was getting. That money will then be handled in such a way that we will control how it is dispersed " he said, further adding that the proceeds would be managed in a way "that benefits the Venezuelan people."

The second phase, Rubio said, would focus on economic recovery and reconciliation ensuring fair access for American, Western and other companies to Venezuela's market sector.

"The second phase will be a phase of what we call recovery - ensuring that American, western and other companies have access to the Venezuelan market oil that is fair, also at the same time, we begin to create the process of reconciliation nationally within Venezuela so that the Opposition forces can be released from prisons or brought back to the country, and we begin to rebuild civil society," he said.

"The third phase will be one of transition," Rubio added, noting "some of these will overlap, I have described this to them in great detail. We will have more detail in the days to follow but we feel like we are moving forward here in a very positive way."

Earlier, Trump posted on Truth Social stating, "I am pleased to announce that the Interim Authorities in Venezuela will be turning over between 30 and 50 MILLION Barrels of High Quality, Sanctioned Oil, to the United States of America."

"This Oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States!" he said.

The US President further asserted that he had directed Energy Secretary Chris Wright to "execute this plan, immediately," adding that the oil "will be taken by storage ships, and brought directly to unloading docks in the United States."

Further on the Greenland crisis, Rubio said he plans to meet Danish officials next week, amid renewed assertions by the Trump administration that the US intends to acquire the strategic Arctic island.

"I will be meeting them (Government of Denmark) next week," he said, adding, "I am not here to talk about Denmark or military intervention… We will have those conversations with them then."

Rubio said the administration’s preference was to eventually purchase Greenland rather than use force. He also told reporters that Trump has spoken about acquiring Greenland since his first term.

"That’s always been the president’s intent from the very beginning," he said, adding that Trump was "not the first US president that has examined or looked at how we could acquire Greenland."