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Trump says Venezuela stole U.S. oil, land and assets. Here’s the history.

 What to know

Venezuela’s nationalization of its oil industry under Presidents Pérez and Chávez led to U.S. sanctions and a blockade by President Trump, who claimed Venezuela stole U.S. assets. Economist Francisco Rodríguez refuted Trump’s claims, noting U.S. companies never owned oil or land there. The blockade could severely impact Venezuela’s economy, but not the global oil market, according to Neil Atkinson.

Summary is AI-generated, newsroom-reviewed.

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