How the Trump administration runs Venezuela and takes its money

The United States, under the Trump administration, is exerting significant influence over Venezuela, with major decisions about the country's future reportedly being made or heavily influenced from Washington D.C. This situation has led some experts to label Venezuela a "protectorate in all but name."

Since the reported capture of then-leader Nicolás Maduro in January, a system for managing money has been implemented by the U.S. Recent reports suggest the U.S. has collected over $13 billion from Venezuelan oil sales, a figure President Trump believes is even higher. This financial inflow contrasts sharply with the dire economic reality in Venezuela, where more than half the population is believed to be living in extreme poverty, a crisis worsened by catastrophic twin earthquakes in June.

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We're taking in a lot of money, billions and billions of dollars from Venezuela.

While Vice President Delcy Rodríguez has assumed the role of interim leader, ultimate control is reportedly not hers. Following Maduro's capture, Trump made it clear that Rodríguez could face a similar fate if she did not comply with U.S. pressure. Consequently, Venezuela appears to be following American directives after years of strained relations.

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The decision-making seems highly concentrated in Marco Rubio's office in the White House.

However, the ultimate decision-maker is not believed to be the U.S. president, but rather his secretary of state. Benjamin Gedan, director of the Latin America program at the Stimson Institute think tank, suggests that decision-making is highly concentrated in Marco Rubio's office within the White House. The New York Times reported that Rubio regularly communicates with Rodríguez via WhatsApp, directing Venezuela's daily operations and reportedly holding direct control over the country's export revenue and public fund spending. This leverage ensures Rodríguez's dependence on these funds to maintain government functions.

Despite Rodríguez being an unelected leader, whose government came to power through a widely condemned election in 2024, the Trump administration has not questioned her political legitimacy. This arrangement allows for continued U.S. influence over Venezuela's affairs, including its substantial oil reserves, which constitute about a quarter of the country's GDP.

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Under this arrangement, there has been 'no questioning by the Trump administration of the Delcy Rodriguez government's political legitimacy'.