President Donald Trump has indicated he is “inclined” to prevent ExxonMobil from pursuing deals in Venezuela following remarks made by the company’s CEO, Darren Woods, during a meeting at the White House. Woods reportedly described Venezuela as “uninvestable,” prompting the president’s response.
Trump Considers Blocking ExxonMobil’s Venezuela Access
During the meeting, Woods conveyed ExxonMobil’s assessment of Venezuela’s investment climate. Trump responded by suggesting he would be willing to block the company from operating in the country, according to multiple reports.
The president’s stance appears to be a direct reaction to Woods’ characterization of Venezuela. Sources familiar with the meeting stated that Trump was displeased with the CEO’s assessment.
ExxonMobil has a history of operations in Venezuela, and the potential for renewed investment has been a topic of discussion as the country’s political and economic situation evolves. The company previously had significant assets in Venezuela that were nationalized under Hugo Chávez.
The situation remains fluid, and it is currently unclear what specific actions Trump might take to restrict ExxonMobil’s access to Venezuela. The White House has not released an official statement detailing the president’s plans.
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