Rubio says U.S. has "tremendous leverage" over Venezuela, will control money from oil sales

Washington — Secretary of State Marco Rubio said Wednesday that the Trump administration has "tremendous leverage" over Venezuela because of the U.S. "quarantine" of sanctioned oil, and said the U.S. will control how money from sales of Venezuelan oil is disbursed.

Rubio told reporters after briefing senators on the administration's involvement in Venezuela that the U.S. has a "three-fold process" that involves stabilization of the country, recovery and transition following the ouster of former President Nicolás Maduro.

"We don't want it descending into chaos," he said.

Rubio said the Trump administration's "quarantine" of sanctioned Venezuelan oil gives the U.S. the "strongest leverage possible." He said the Trump administration is going to first be taking between 30 million and 50 million barrels of oil, which will be sold "at market rates." Crude oil prices have hovered around $60 a barrel in recent days.

"That money will then be handled in such a way that we will control how it is disbursed in a way that benefits the Venezuelan people, not corruption, not the regime, so we have a lot of leverage to move on the stabilization front," he said.

White House press secretary Karoline Leavitt told reporters that the barrels will arrive in the U.S. "very soon."

"The United States government has already begun marketing Venezuelan crude oil in the global marketplace for the benefit of the United States, engaged the world's leading commodity marketers, key banks to execute and provide financial support for these crude oil and crude product sales," she said.

Petróleos de Venezuela, the state oil company, confirmed that it is in negotiations with the U.S. for the sale of oil "within the framework of the existing trade relations between the two countries."

"This process is being carried out under similar schemes to those in place with international companies, such as Chevron, and is based on a strictly commercial transaction, with criteria of legality, transparency, and benefit for both parties," the firm said in a statement. "PDVSA reaffirms its commitment to continue building alliances that promote national development for the benefit of the Venezuelan people and that contribute to global energy stability."

The second phase of the administration's plan, recovery, involves ensuring American, Western and other companies have access to the Venezuelan market "in a way that's fair," as well as national reconciliation and amnesty for opposition forces, Rubio said. The third phase will then be transition, though the secretary of state did not provide details as to what they may entail.

"We feel like we're moving forward here in a very positive way," Rubio said. 

He said U.S. sanctions on Venezuela oil provide "tremendous leverage," as the South American country's interim leaders "cannot move any oil" unless allowed by the Trump administration.

"There is a process now in place where we have tremendous control and leverage over what those interim authorities are doing and are able to do," he said. "Obviously this will be a process of transition. In the end, it will be up to the Venezuelan people to transform their country."

Senior administration officials, including Rubio and Defense Secretary Pete Hegseth, have been dispatched to Capitol Hill to meet with lawmakers about its plans for Venezuela after Maduro was deposed in an overnight operation early Saturday.

Maduro and his wife, Cilia Flores, were brought to the U.S. to face drug-trafficking and weapons offenses. They pleaded not guilty Monday.

Mr. Trump said in announcing Maduro's ouster that the U.S. would "run" Venezuela, but did not provide details as to the extent of a U.S. commitment. Delcy Rodriguez, who was vice president under Maduro, was sworn in as Venezuela's interim president earlier this week.

Mr. Trump announced the deal for 30 million to 50 million barrels of sanctioned oil Tuesday night and said it would 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 Energy Secretary Chris Wright would organize the process of transferring the oil from Venezuela to the U.S. Wright said earlier Wednesday that the U.S. will control Venezuelan oil sales "indefinitely."

The U.S. carried out operations Wednesday to seize two oil tankers — one in the North Atlantic and the second in the Caribbean Sea — that are linked to Venezuela. With the latest seizures, the U.S. has now detained four tankers tied to the country.

While Mr. Trump has said U.S. energy companies would play a central role in reviving Venezuela's oil industry, experts told CBS News it would take years for foreign oil companies to build out operations.