Trump Pushes Venezuela Oil Deal Despite Billions in Unpaid Debt

Former U.S. President Donald Trump is urging American energy companies to invest billions in Venezuela's oil sector. This call comes despite the South American nation owing U.S. firms massive debts from past projects. Venezuela's oil infrastructure is in severe disrepair after years of mismanagement and sanctions. Investment is needed to revive production. However, major companies like ConocoPhillips and ExxonMobil are owed billions. These debts stem from assets seized by the Venezuelan government over a decade ago. The unresolved debts create a significant complication. Any new investment deal would likely require a settlement on these old claims. The situation highlights the difficult balance between pursuing new business opportunities and collecting on old debts in global energy markets.