Trump says China can buy oil only from US markets

Washington: President Donald Trump said China would be restricted to purchasing oil only from the United States or from markets controlled by Washington, framing the move as part of a broader effort to consolidate US leverage over global energy flows.

Speaking during remarks at the White House following a meeting with oil and gas executives, Trump said Beijing would no longer be able to access Venezuelan oil independently and would instead have to buy through US-approved channels.

“China can buy all the oil they want from us there or in the United States,” Trump told reporters.

He said the policy applied both to oil produced in Venezuela under US-authorized arrangements and to supplies originating from within the United States.

“China and Russia and everybody else is able to go,” Trump said, adding that purchases would take place under conditions set by Washington.

Trump said the decision was aimed at preventing China from establishing a strategic foothold in Venezuela following years of instability and sanctions.

“If we didn’t do this, China would have been there,” Trump said. “And Russia would have been there.”

He said Venezuela’s proximity to the United States made foreign control unacceptable.

“This is sort of a next-door neighbor if you think about it,” Trump said.

Trump said Washington had made clear to Beijing that it would not tolerate Chinese control or influence over Venezuelan energy assets.

“I told China, and I told Russia, we get along with you very well,” Trump said. “We like you very much. We don’t want you there.”

He said the new framework would allow China to continue meeting its energy needs while ensuring US strategic dominance.

“We are open for business almost immediately,” Trump said.

The president said US military and economic actions had reshaped the balance of power in Venezuela and forced a realignment of global oil access.

“If we didn’t do this, China would have been there and Russia would have been there, maybe they both would have been there together,” Trump said.

Trump said the United States now controlled the terms under which Venezuelan oil would reach global markets.

“We’re empowered to make that deal,” he said.

He said U.S. oil companies would rebuild Venezuela’s energy infrastructure under American protection, eliminating the conditions that previously allowed oil to flow to what he described as “bad actors.”

“Those sanctions were not enforced,” Energy Secretary Chris Wright said during the meeting. “That oil just floated out.”

Trump said the new approach would prevent such outcomes by placing production, refining and distribution under US oversight.

“We’re going to be working with Venezuela,” Trump said. “You’re dealing with us directly.”

He emphasized that Chinese access to oil would be commercial rather than strategic.

“They need a lot of oil,” Trump said, referring to China. “Russia doesn’t need so much.”

Trump said the United States was prepared to supply energy at scale.

“We are the most energy-dominant country in the world,” he said.

He said the arrangement would also contribute to lower global oil prices while reinforcing US influence.

“This leads to lower taxes and a lot of jobs for Americans,” Trump said.

Trump rejected suggestions that restricting China’s access would escalate tensions, saying the policy reflected economic reality rather than confrontation.

“I like China,” Trump said. “I like the people of China.”

He said the framework ensured that energy commerce, not geopolitical rivalry, defined the relationship.

“We are open for business in the United States and we are open for business in Venezuela,” Trump said.

China is the world’s largest oil importer and has historically sourced crude from a wide range of suppliers, including Venezuela.

IANS