Tag: venezuela
Why Nobody In Venezuela Takes Trump's Big 'Oil Deal' Seriously

Why Nobody In Venezuela Takes Trump's Big 'Oil Deal' Seriously

Donald Trump is not very good at running the economy, but he does have a great imagination about how he runs the economy. Trump continually boasts about the incredible amount of foreign investment coming into the country. It was $20 trillion last I heard, but it might be up to $30 or $40 trillion the next time Trump decides to boast about it.

This boast has absolutely nothing to do with reality. Contrary to what Trump says, there is no boom in auto factories or any other factories coming into the United States. Factory construction has actually plummeted since Trump came into the White House, after booming under Biden.

The looniness about the investment boom should be kept in mind when considering Trump’s deal to take control of 65 billion barrels of Venezuela’s oil. Trump is promising that this deal will both lower gas prices and be used to refill the Strategic Petroleum Reserves that he has largely drained as a result of his war on Iran.

While people are naturally offended by the blatant imperialism in this deal, that is precisely the reason why there is not much cause to be concerned. The basic story is, because the deal is so transparently an effort by the United States to steal oil from a country that it controls militarily, it is virtually guaranteed that as soon as the country is not run by a U.S.-installed dictator, Trump’s deal will be dumped in the trash.

This point was well-made by Venezuelan economist and opposition leader Ricardo Haussman (also cited in a piece by Michael Tomasky in The New Republic). The deal is seen as a joke by pretty much everyone in Venezuela.

If Venezuela doesn’t honor this deal, what will a future administration do, take them to court? Or will they send U.S. soldiers to die for Venezuela’s oil?

In terms of its immediate impact, there is not some spigot that can be turned on that will get massive amounts of Venezuela’s oil flowing. It’s currently producing around 1.25 million barrels a day. While it has massive reserves, its production facilities deteriorated badly as a result of U.S. sanctions. The country was largely unable to get needed parts, and it lacked funding because it was prevented from selling its oil to much of the world.

Oil production can only get back to its 3 million barrel a day turn-of-the-century pace with billions of dollars of foreign investment. It is unlikely that this deal will make companies happier about putting large sums at risk. Any investment will only pay off over many years, long after Trump will be out of office.

It also is not plausible to use Venezuela’s oil to refill the Strategic Reserves. Venezuela’s oil is very heavy and highly acidic. The Strategic Reserve is designed for light, alkaline oil. It could not easily store Venezuela’s oil.

In short, file Trump’s Venezuelan oil deal with the $60 trillion in foreign investment pouring into the country. It exists only in his head.

Dean Baker is a senior economist at the Center for Economic and Policy Research and the author of the 2016 book Rigged: How Globalization and the Rules of the Modern Economy Were Structured to Make the Rich Richer. Please consider subscribing to his Substack.

Charting Corruption: Trump Grifting Dwarfs 'Biden Crime Family' Chump Change

Charting Corruption: Trump Grifting Dwarfs 'Biden Crime Family' Chump Change

Most people recognize that Donald Trump and his kids are stealing from us with both hands every day. But they are not as outraged as they should be because most have the view that everyone does it. While I will never defend the Democrats as paragons of honesty (what the hell are those crypto contributions?), they are not in the same ballpark as Trump and his crew.

Part of the confusion stems from the media’s refusal to ever put big numbers in context. They all know that the vast majority of their audience is not clear on the distinction between millions, billions, and trillions, and have no idea how large the federal budget is, but they refuse to take the ten seconds and ten words that would be needed to give readers a clearer sense of what is at stake.The other source of confusion is that the Republicans spent four years endlessly hyping the “Biden crime family.” They used Congressional hearings, as well as thousands of appearances on TV news shows, to yell (often literally) about Biden family corruption.

And it’s clear it was not zero. Hunter Biden, while struggling with drug addiction, openly traded on his family name to land a well-paying perch with a Ukrainian energy company. He also managed to sell his artwork, which is not obviously of great value, for $50k a painting.

Joe’s younger brother, James, also seems to have traded on the family name, but the sums involved appear to be in the hundreds of thousands of dollars, and mostly during the years 2017-2019, when Joe Biden was not even in public office.

It is a bad practice for family members to profit from their ties to a vice-president or president, but there is zero evidence that Joe Biden ever did anything to directly benefit his son or brothers in their business dealings. We can be pretty certain of this fact because Republicans in Congress and the White House, both in Trump’s first term and his current term, have left no stone unturned in trying to show Biden’s corruption. (Trump’s first impeachment was over his effort to extort Ukraine’s president to lie about Biden’s corruption.)

While it is difficult to get clear numbers on the extent of the corruption of Trump and his family in his current term, since they disclose as little as possible, and no one can accept what they do disclose at face value, we can try to put some numbers on it. At the very least, it should be totally clear that Trump’s corruption, by any measure, is in a totally different universe from even the worst imaginable story that can be told about Joe Biden and his family.

The list below is far from exhaustive. We will probably not know all the ways that Trump put money into his and his family’s pockets until long after his presidency, and maybe not even then. But this should be a good start.

Venezuela’s Oil -- $13 billion

Trump has repeatedly said that “we” got $13 billion from selling Venezuela’s oil. This is after he kidnapped Venezuela’s president, Nicholas Maduro, and put his vice-president, Delcy Rodríguez, in charge of the country. According to Trump, she is taking her orders from Secretary of State Marco Rubio.

Any money that the U.S. gets from selling Venezuela’s oil is essentially stolen from Venezuela. It is their oil. But to make matters worse, there is literally zero accounting of this money. Under the law, any money obtained from Venezuela should go to the U.S. Treasury. Any spending from this money should be approved by Congress.

Instead, Trump has sent the money to an account in Qatar, and it is unclear what is happening with it. Until it can be shown otherwise, it is reasonable to assume that Trump has personally pocketed it. If that is not the case, Trump should be able to document what has happened to this money any day of the week. Until he does show what happened to the money, we might as well assume it went into Donald Trump’s pockets.

Trump Family Crypto -- $1.4 billion

Trump created his own crypto coin, $Trump, which people could buy as a way of currying favor with Trump. Melania Trump also made a crypto coin, $MELANIA. His crypto company, World Liberty Financial, has also put out a crypto coin. In addition to making money from selling the coins directly, Trump also profits from transactions in the coins, since they pay him a fee.

Trump’s “Gift” Plane from Qatar -- $1.1 billion

A gift to the president, while they are in office, is a gift to the United States government. Nonetheless, Trump plans to take the plane that Qatar gave him back to Mar-a-Lago when he leaves office in less than two and a half years. The plane itself was worth $400 million. In addition, the Pentagon is spending between $400 million and $1 billion to install protective equipment which was already in place for the two existing versions of Air Force 1. I have included the middle figure of $700 million.

Trump Truth Social Insider Trading Sales -- $1.2 billion

Donald Trump recently announced that he will sell a special subscription service, where for $100,000 a month, investors could get advance notice of Truth Social posts that are likely to move markets. We don’t know how many investors will ultimately pay for the opportunity to trade on inside information. But if it ends up being 1,000, Trump will pocket $1.2 billion a year from this scam.

Selling pardons – $10 million

Reuters did an investigation of Trump’s pardons, noting that 96% did not follow the normal procedure. They noted that just ten prominent pardon recipients contributed over $10 million to Trump campaign funds. The full amount given by all the people receiving pardons is surely considerably larger. The New York Times had an excellent piece back in March on the pardon industry that has arisen around Trump.

Melania Trump’s 'Documentary' -- $28 million

Melania Trump was given a contract by Amazon for rights to a documentary on her. According to the Wall Street Journal, her take was $28 million. The film grossed $16 million.

Jared Kushner Hedge Fund Investments -- $5.4 billion

Shortly after leaving the White House following Trump’s first term, first son-in-law Jared Kushner started a hedge fund, Affinity Partners, that quickly drew billions of dollars of investments from Saudi Arabia and other Persian Gulf countries. While Kushner cannot directly put this money into his pocket, he is certainly positioned to get hundreds of millions in fees from the fund, especially if his proximity to Trump allows for his investments to have large payoffs.

Trump Sons’ Military Contracts -- $315 million

Donald Trump Jr. and Eric Trump have recently taken an interest in several companies that are now getting contracts from the military. The Washington Post puts the value of the current and likely future contracts for these companies at $6.3 billion. If we say five percent will go to the Trump kids, this comes to $315 million.

While this list hopefully captures the biggest windfalls that Trump and his family are receiving from the presidency, it is certainly not a complete list of Trump family corruption. For example, Donald Trump Jr. is a paid advisor to the Kalshi betting market and an investor in Polymarket. The Trump administration has worked aggressively to block regulation of these markets that might hurt their profits.

Donald Trump also trades stock frequently, often buying shares in companies just before they get a major government contract. The Trump family business has been blessed with favorable treatment of hotel and resort projects in countries seeking lower tariff rates on their exports to the United States. And the Trump family openly hawks their merchandise at the White House and on official websites. But most of these items would likely to be small potatoes compared to the graft listed here.

The Biden Crime Family’s Haul

As with the Trump numbers, these are crude guesses. People can also decide for themselves the extent to which they represent presidential corruption. For example, when Hunter Biden gets payments from shady Chinese businesspeople in a period where Joe Biden is a private citizen, is that presidential corruption?

Anyhow, here is what I get.

Hunter Biden Burisma Payments -- $4.0 million

These were payments made to Hunter Biden for serving on the Board of Burisma, a large Ukrainian energy firm. Hunter Biden served on Burisma’s board, starting in 2014, when Joe Biden was vice-president, and remained on the board until 2019, leaving before Joe Biden’s term as president.

Hunter Biden Payment from Chinese Businesses -- $2.6 million

Hunter received $2.6 million in payments in 2017 and 2018 from Chinese business owners with dubious business practices. These were years when Joe Biden was a private citizen, his term as vice-president having ended and more than two years before his term as president began.

Hunter Biden Art Sales -- $1.5 million

Hunter sold 27 paintings between 2021 and 2023 that netted him approximately $1.5 million. Demand for his artwork has fallen considerably after his father left the White House.

James Biden Payment from Chinese Businesses -- $500,000

It seems that some of the money from Hunter Biden’s business associates may have also gone to his uncle and Joe Biden’s brother James. It’s not clear how much this might have been, but as with the payments to Hunter Biden, this was a period where Joe Biden was a private citizen.

If anyone is wondering, I did not forget to put the Biden numbers on the graph. They are just too small to be visible next to the Trump graft numbers.

The point here should be obvious to everyone. Joe Biden’s family members, or at least Hunter Biden, behaved in ways that most of us would likely view as unethical. But even if we blame President Biden for actions in which he had no direct involvement, his corruption is not anywhere near the level of corruption of the Trump administration.

Trump and his family seem to view the government as a massive candy store from which they can take whatever they want as long as Donald Trump is in the White House. And as long as Republicans control Congress and the Supreme Court, they might be right.

Dean Baker is a senior economist at the Center for Economic and Policy Research and the author of the 2016 book Rigged: How Globalization and the Rules of the Modern Economy Were Structured to Make the Rich Richer. Please consider subscribing to his Substack.

Behind Trump's Venezuela And Greenland Operations, Look For Putin

Behind Trump's Venezuela And Greenland Operations, Look For Putin

Vladimir Putin has been attempting to influence Donald Trump to seize both Venezuela and Greenland since at least 2017. The effort, rooted in Putin’s ambitions in Ukraine, hinged on American embrace of the Monroe Doctrine, the 1823 policy framework that focused American influence within the Western Hemisphere.

Putin’s reasoning, according to witnesses familiar with the proposals, is simple: if Trump would agree to disengage in Ukraine, Putin would agree to give Trump control in Venezuela. Each country is in the other’s “backyard,” the story went, so if Trump got relief in his backyard, Putin could expect reciprocation in his.

Rather than approach Trump outright with an explicit quid-pro-quo arrangement, Putin arranged a series of dangles and provocations that he hoped might prompt Trump to follow Putin’s plan.

The Origins of Trump’s Greenland Obsession

Ron Lauder, the cosmetics heir and confidant to both Trump and Putin, initially approached Trump with the idea to buy Greenland in 2017. According to the 2022 book The Divider by Peter Baker and Susan Glasser, Trump took it to his National Security Adviser, John Bolton, saying, “A friend of mine, a really, really experienced businessman, thinks we can get Greenland.” Lauder even volunteered to serve as a “back channel” to the Danish government and help drive the negotiations.

Bolton did not initially reject the idea, reasoning that an expanded relationship with Greenland might serve American interests. But he also knew the notion of buying Greenland was next to impossible; Truman had tried to do so and failed in 1946, and the Danes were still uninterested. Bolton also rejected the idea of Lauder as emissary. By 2018, knowing Trump would likely not drop the idea, Bolton instructed his aide Fiona Hill to at least explore the idea.

Hill and Michael Ellis, a National Security Council lawyer, met secretly with the ambassador to Denmark to develop ideas that might be workable, with the knowledge that a purchase was impossible. They brainstormed various alternatives, but Bolton instructed them to stop in favor of more important work.

He threatened to shift hurricane relief funds from the island commonwealth towards acquiring Greenland, going so far as to even propose a trade of Puerto Rico for Greenland—a bargain the Danes would surely find bizarre.

But Trump didn’t let it drop, and also became fixated on Puerto Rico. He threatened to shift hurricane relief funds from the island commonwealth towards acquiring Greenland, going so far as to even propose a trade of Puerto Rico for Greenland—a bargain the Danes would surely find bizarre.

Bolton planned to meet with the Danish prime minister to broach a discussion on Greenland, but after a story in the Wall Street Journal revealed Trump’s interest, the Danes predictably reacted poorly, with one party spokesperson saying, “If he is truly contemplating this, then this is the final proof that he has gone mad.”

With Trump’s interest now public, he lost all interest in the deal, cancelling planned trips by both Bolton and the president to Denmark. Trump didn’t want to pursue it unless it could be done in secret. Bolton resigned as National Security Adviser a few weeks later.

Meanwhile, Ron Lauder, who was also the president of the World Jewish Congress (WJC) had also met again with Vladimir Putin, ostensibly to discuss issues of interest to the Jewish community in Russia. Kremlin records confirm that Lauder met with Putin on March 19, 2019—right when the administration’s still-private talks on Greenland were at their peak. Lauder went on to make a series of direct investments in Greenland, including in the infrastructure, energy, mining, and consumer sectors, with some analysts warning that Lauder’s investments were strategic in nature and intended to eventually facilitate American control over the island.

Turning Up the Heat in Venezuela

Venezuela had long been a source of irritation for the United States. An important oil producer and client state to both Russia and China with unstable politics, different administrations had adopted policies intended to shape Venezuela in various ways. With its relative proximity placing it in the United States’ sphere of influence, Putin believed he could use it as a platform for provoking Trump—much as the USSR had used Cuba in the 1960’s.

In December 2018, Putin sent two Tu-160 nuclear-capable bombers to Venezuela. Mike Pompeo, then Secretary of State, called the move “two corrupt governments squandering public funds.” The highly publicized action, which came just days after President Maduro met with Putin in Moscow, was meant to irritate Trump. And as the BBC noted, “Russia is not the only one sending its military jets to other countries. The US has also sent planes to its allies, including Ukraine, whose relations with Moscow remain tense following Russia’s annexation of Crimea in 2014.” From Putin’s perspective, he was only doing in Venezuela what the United States had already done in Ukraine.

Shortly afterwards, in the spring of 2019, Fiona Hill (the Bolton aide who was also fielding the Greenland deal), said that her team began to receive informal proposals from Russian counterparts that signaled their willingness to back off in Venezuela if the United States would disengage in Ukraine.

“This is March, April, into May, where we were having a standoff over Venezuela. And the Russians at this particular juncture were signaling very strongly that they wanted to somehow make some very strange swap arrangement between Venezuela and Ukraine,” Hill testified in October 2019. In March 2019, Russia had sent two planes full of troops and equipment to Venezuela, provoking the administration. Predictably, Trump didn’t like it. He said at the time, “Russia has to get out” of Venezuela. It was in this context that Hill’s team received these informal offers of compromise rooted in the Monroe Doctrine.

From Hill’s testimony :

In other words, if we were going to exert some semblance of the Monroe Doctrine of … Russia keeping out of our backyard, because this is after the Russians had sent in these hundred operatives essentially to … secure the Venezuelan Government and to preempt what they were obviously taking to be some kind of U.S. military action, they were basically signaling: You have your Monroe doctrine. You want us out of your backyard. Well, you know, we have our own version of this. You’re in our backyard in Ukraine. And we were getting that sent to us, you know, kind of informally through channels. It was in the Russian press, various commentators.

Bolton wasn’t having it. As Hill recounted, “I was asked to go out to Russia in this timeframe to basically tell the Russians to knock this off.” Hill also discovered connections between the Venezuelan energy sector and similar investments in Ukraine, specifically connecting through Trump ally Rudy Giuliani:

In the course of my discussions with my colleagues, I also found out that there were Ukrainian energy interests that had been in the mix in Venezuelan energy sectors as well as the names again of Mr. Parnas and Mr. Fruman, and this gentleman Harry Sargeant came up. And my colleagues said these guys were notorious in Florida and that they were bad news.

What Hill had discovered was a connective lever, fronted by Giuliani, Parnas, and Fruman, between Rosneft, the Russian oil giant which controlled much of the Venezuelan oil sector and Gazprom, the Russian natural gas giant, which was heavily invested in Ukraine.

The Kremlin hoped to use their two energy giants as a ‘reciprocal shield.’ The strategic logic was that if the United States imposed sanctions on Rosneft for its support of Maduro in Venezuela, Russia would retaliate by restricting natural gas flows through Ukraine. This would effectively cause energy prices to spike in Europe and create a security crisis in Ukraine, forcing Washington to choose between its interests in the Western Hemisphere and those in Eastern Europe.

Bolton had described Giuliani’s backchannel negotiations between Venezuela and Ukraine interests as a “drug deal” and advised the administration should have nothing to do with it. Indeed, it was this backchannel that was the basis of Trump’s 2019 impeachment, and the reason for Hill’s testifying to Congress.

The Guaidó-Hillary Gambit

After Putin’s multiple failures to lure Trump into his Venezuela-Ukraine snare, he tried something he thought would be more reliable: he would portray Venezuelan interim leader Juan Guiadó as weak and easily toppled.

According to John Bolton’s 2020 memoir, The Room Where It Happened, Trump had a call with Putin wherein the Russian president compared Guaidó to Hillary Clinton, Trump’s longtime rival and nemesis.

An unnecessary negative development was Trump’s decision to call Putin on May 23 [2019], primarily on other subjects, but including Venezuela at the end. It was a brilliant display of Soviet-style propaganda from Putin, which I thought largely persuaded Trump.

Putin said our support for Guaidó had consolidated support for Maduro, which was completely divorced from reality, like his equally fictitious assertion that Maduro’s May 1 rallies had been larger than the Opposition’s. In a way guaranteed to appeal to Trump, Putin characterized Guaidó as someone who proclaimed himself, but without real support, sort of like Hillary Clinton deciding to declare herself President. This Orwellian line continued, as Putin denied that Russia had any real role in the events in Venezuela.

“Putin could easily have come away from this call thinking he had a free hand in Venezuela,” Bolton wrote. But despite the repeated provocations, nudging, and psychological volleys during the spring of 2019, Trump did not take the bait—primarily because Bolton and Hill blocked the overtures, dismissing them as absurd. As Hill testified, the offer was “you stay out of Ukraine … and … we’ll rethink where we are with Venezuela.” It was simply not a deal they would consider.

Bolton resigned on September 10, 2019. He and Trump had sparred repeatedly over policy, but especially about Russia. As the New York Times reported at the time, “While Mr. Trump seeks to woo President Vladimir V. Putin, Mr. Bolton considers Moscow a hostile player. After Mr. Trump last month suggested inviting Russia back into the Group of 7 despite its annexation of Crimea, Mr. Bolton traveled to Ukraine to reassure its leaders of American support against Russian aggression.”

Sen. Tom Cotton and the Russian Forgery

Immediately after Trump’s intentions around Greenland became public on August 18, 2019, Senator Tom Cotton (R-Ark.) began running cover for the president. At a luncheon on August 21, Cotton claimed that he had been the one to suggest the idea to Trump, not Ron Lauder. (This was of course false, but the Baker-Glasser reporting on the Lauder origins would not be released until three years later.)

Cotton also claimed that he had met with the Danish ambassador to propose the sale of Greenland to the United States. A few days later on August 26, Cotton published an op-ed in The New York Times arguing that purchasing Greenland was a “no brainer,” reiterating many of the same talking points Lauder had made in 2017.

Shortly afterwards, a letter addressed to Sen. Cotton dated October 23, 2019, emerged online claiming to be from Ane Lone Bagger, Greenland’s Minister of Education, Culture, Church, and Foreign Affairs. The letter seemed to “green light” American intervention in Greenland, or at least invite further discussion.

Forged letter from the Greenland government to Senator Tom Cotton, 2019. (Source: Martin Lehmann/POLFOTO)

Forged letter from the Greenland government to Senator Tom Cotton, 2019. (Source: Martin Lehmann/POLFOTO)

However, the letter was soon declared a forgery—but not before it had circulated circulated online, in Danish newspapers, and in international outlets as evidence of official support of Cotton’s proposal. But it was all a lie.

As reported in the Danish outlet Politiken on November 11, 2019 (translation ours):

This is the first time in recent times that a fake of this type has appeared in the midst of a tense Danish foreign policy situation.

The purpose of the forged letter is clear, according to a number of experts and politicians: to pull apart Greenland and Denmark apart, and to sow deep distrust between Denmark and the United States.

Major and military analyst Steen Kjærgaard from the Danish Defence Academy, who works on communication strategy and misinformation, calls it “most obvious” that Russia is behind the fake letter.

It remains unknown why Sen. Cotton rushed in to run interference on this operation when it was clearly being run by the National Security Council’s team. But it is clear that Russia wished to accelerate US discussions on accession of Greenland.

Zhirinovsky’s ‘New Hope’ for 2024

In the wake of Donald Trump’s 2020 election loss, propaganda channels were full of wild claims that Venezuela was somehow responsible for election irregularities. Promoted by figures like Rudy Giuliani and Sidney Powell, the narrative falsely alleged that the U.S. election was compromised by a “communist” plot involving Smartmatic voting software, which was purportedly developed in Venezuela at the behest of the late Hugo Chávez to ensure he never lost an election. The story had no relationship with reality and, to most everyone, sounded completely insane.

Amid that backdrop, Vladimir Zhirinovsky, a Russian nationalist politician and commentator made a remarkable offer on November 8, 2020, in the event that Donald Trump might win re-election in 2024:

It will be funny, if next election, Trump will go and win. He will win. Next, in 2024, Trump will win. And we could help him. We could help him this time, really interfere. We didn’t do anything, when he was elected in 2016.

And in 2020, if his head would work a little, he would ask us to do something, somewhere. And there, he would win, together with us. We would let him. In Ukraine, we would have taken his position correctly. And he was given an opportunity, in Venezuela, for example.

He will take Venezuela, we will take Ukraine. And he will say to everyone: Look—Venezuela. Tomorrow I will take Cuba. I would help him… But no one is helping him. If we need Trump, then let’s help him.

Zhirinovsky reprised the offers made to Fiona Hill in 2019 (and which she said had also been shared in Russian media), offering to back off Venezuela in exchange for disengagement in Ukraine. Zhirinovsky, however, articulated the idea that this offer might be put on ice and revived later, in a second Trump term.

Yalta 2.0

Dr. Robert Person, a professor at West Point, in a 2019 essay titled “Russian Grand Strategy in the 21st Century” says that Russia has pursued a “Yalta 2.0” approach recalling Stalin’s carving up of Europe in 1945:

Russia seeks to ensure its military, political, and economic security through an uncontested and exclusive sphere of influence in the territory that once formed the Soviet Union. Essentially a supercharged “Monroe Doctrine” for Russia in the post-Soviet space, this vision would give Russia a privileged position of influence in the foreign and domestic affairs of the countries in Russia’s sphere. Equally important, Yalta 2.0 denies other great powers from pursuing interests and influence within Russia’s exclusive sphere of influence.

Trump’s explicit pursuit of the Monroe Doctrine can thus be seen as an explicit mirroring of Russia’s Yalta 2.0 strategy.

Retribution Against Bolton

Early on the morning of August 22, 2025, FBI agents raided the home and office of John Bolton, Trump’s National Security Adviser, who had served from April 9, 2018 to September 10, 2019.

According to the primary sources we have cited here, it was Bolton who was principally responsible for blocking Russia’s ‘Monroe Doctrine’ offers in Venezuela and Greenland.

Bolton also refused to engage with Giuliani’s so-called “drug deal” that would have given Ukrainian President Zelensky a meeting with Donald Trump in exchange for initiating spurious investigations in Ukraine (one against the Biden family, and another on debunked election interference claims involving Ukraine from 2016.)

Bolton has since been indicted on October 16, 2025 on 18 counts by a Federal grand jury for “mishandling” classified information referenced in his 2020 book that sheds light on these incidents. The specific charges are eight counts of transmission of national defense information and 10 counts of retention of national defense information.

Psychologically Targeted Provocations

There is ample evidence of a persistent, ongoing effort by Putin to goad Trump into seizing Venezuela and Greenland that spans both his first and second presidential terms. Using the principles of reflexive control, Putin has repeatedly set up informational conditions as well as psychologically targeted provocations designed to get Trump to act, rooted in factors such as his natural disposition towards ‘deal’ frameworks and his visceral disdain for Hillary Clinton.

And this has been effective: Trump has kidnapped Maduro, seized Venezuela, and has revived aggressive talk about taking Greenland. And the administration has adopted hemisphere-centric Monroe Doctrine language in all of its communications, especially on social media.

But Putin should be careful what he wishes for. While Trump’s actions have demonstrated consistent loyalty to the Russian dictator, the worst-case scenario for Putin is that Trump chooses this exact moment to finally exert leverage. Putin is very vulnerable, having now lost a major part of his oil and shadow banking network. Trump could make Putin’s life very difficult; and not all of his advisors (such as jack-of-all trades Marco Rubio) are as deferential to Russia.

Assuming Putin believes his informal ‘Monroe Doctrine’ gentlemen’s agreement is now in effect, he will demand that Trump make good on this by disengaging from Ukraine. Depending on how much leverage Putin exerts, Trump may also decide to follow through on his threat to withdraw US troops from Europe. He and Putin-loyal DNI Tulsi Gabbard may even decide to supply Russia with intelligence that could aid in the capture of Ukrainian president Zelensky—something Russia has tried to effect repeatedly but has failed to execute on their own. From a security perspective, Ukraine should prepare to not only no longer receive assistance from the United States, but to treat it as a hostile power.

Maduro has retained attorney Barry Pollack, the same attorney who represented Julian Assange—another signal of Russian alignment. The Justice Department has also now dropped its claim that Cartel de los Soles is a real organization, which may lead to the invalidation of the current indictment and dropping of further charges, and could potentially lead to Maduro being sent elsewhere. Exile in Moscow has been mentioned as one likely option.

Hungary’s Viktor Orban, an ally of both Putin and Trump, has also withheld any criticism of Trump’s Venezuela gambit, and has said he supports a US takeover of Greenland.

Face the Nation host Margaret Brennan asked Sen. Tom Cotton if he was aware that Fiona Hill had testified about a Venezuela-Ukraine deal. He dodged the question. And to the best of our knowledge, no one has recently confronted him about his 2019 role in the Greenland operation.

A Multiplicity of Incentives

“We’re in the oil business,” Trump said matter-of-factly at his post-invasion press conference. Indeed, oil is a key prize in the Venezuela raid; the country also possesses significant assets in gold and other natural resources. Major Trump donor Paul Singer acquired Citgo, the US subsidiary of PDVSA (the Venezuelan state oil company), in 2024 for $6 billion—a bargain price because of the sanctions then imposed. If he can manage to hold onto his stake, he could be a major beneficiary of Trump’s invasion.

As we previously reported, tech entrepreneurs connected to Elon Musk, Ken Howery and Dryden Brown, expressed renewed interest in the Greenland deal in 2024, to pursue a “network state” libertarian development project. Some have noted connections to the “technocracy” movement, of which Musk’s grandfather was a leader in Canada, which in 1940 published a map of the “Technate of America” spanning from Greenland to Venezuela, mirroring the Monroe Doctrine strategy—a vision that still seems to resonate with Musk.

If the so-called “Donroe Doctrine” realignment strategy is the main event, the many opportunities for profiteering have served as dangles and incentives to catalyze it. And of course, Trump has shifted political discourse away from ongoing Epstein disclosures to his own actions—a change he welcomes.

What to Expect Next

Many observers have suggested that Trump’s actions in Venezuela set a precedent that will encourage increased adventurism from both Putin and China’s president Xi. However, Trump’s action, while brazen, was not a particularly remarkable precedent. The US has taken similar actions many times before, and Putin has aggressively attacked his neighbors for years.

China needs no one’s permission to advance on Taiwan, and will do so at a time of their choosing—if indeed they choose to do so. As we have previously reported, China has a history of relying on economic, political, and information warfare to absorb rivals over a long period of time. Only if forced to save face or exploit some specific time constraint would we expect Xi to engage in military action against Taiwan, and it is very unlikely they would choose to do it in response to external actions elsewhere. Even as China has important interests in Venezuela, Trump has said “we are in the oil business” and will continue to sell to existing customers.

The Trump administration is now openly signaling that it intends to make moves in Cuba, Colombia, Greenland, and anywhere else in the hemisphere it wishes to impose its will. Such imperialism has already given the Kremlin ammunition to accuse the United States of ‘neocolonialism,’ bolstering its claims on Ukraine, its ‘near abroad,’ and ultimately on Europe. We have unleashed monsters.

The newly-christened “Donroe” doctrine reworks Monroe’s principle of non-interference by outside powers in the Americas into the idea that the U.S. has sole great power rights to recast the continent as its President sees fit. That approach aligns with Putin’s revanchist effort to reassert control over the entire territory of the former Soviet Union and perhaps as well its influence in what were once its satellite regimes to its west.

The implications for western Europe and traditional U.S. allies are stark. They will need to be prepared to defend themselves against not only the traditional Russian threat, but as we are already seeing in the Greenland gambit, against the new American one.

Dave Troy is an investigative journalist, technologist, and historian addressing threats to democracy. He hosts a podcast, Dave Troy Presents.

Reprinted with permission from The Washington Spectator

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