Trump says US has giant quantities of oil from Venezuela, Cuba at ‘finish of the road’

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President Donald Trump declared Saturday that the U.S. is "taking out large quantities of oil" from Venezuela whereas vowing to "take care" of Cuba’s regime following America’s deal with Iran.

The president, talking on the Protect of the Americas Summit in Florida, prefaced his remarks by saying that for the reason that January operation to capture former Venezuelan dictator Nicolás Maduro, the administration has "been working carefully with the brand new president of Venezuela, Delcy Rodriguez," and, "she’s doing an excellent job working with us."

"And we're taking out large quantities of oil. They're making extra money now than they've ever made, ever made. We have now the large oil firms in. They're making extra money, we’re getting some," Trump mentioned. "They're getting quite a bit. They're making extra money now than they've ever made within the historical past of their nation."

"And I am happy to say that this week we now have formally acknowledged the Venezuelan authorities. We have really legally acknowledged them. We have now additionally simply reached a historic gold deal that is referred to as the gold cope with Venezuela, to permit our two nations to work collectively to facilitate the sale of Venezuelan gold and different minerals," Trump continued, describing a license issued by the Treasury Department Friday that prohibits individuals and corporations from Iran, North Korea, Russia and Cuba from doing enterprise with Minerven – Venezuela's state-owned gold mining firm – amongst different measures.

President Donald Trump attends the Protect of the Americas Summit on Saturday, March 7, 2026. (Kevin Lamarque/Reuters)

"As we obtain a historic transformation in Venezuela, we're additionally wanting ahead to the nice change that may quickly be coming to Cuba. Cuba's on the finish of the road," Trump additionally mentioned. "They're very a lot on the finish of the road. They don't have any cash, they don't have any oil. They've a foul philosophy. They've a foul regime that is been unhealthy for a very long time. And so they used to get the cash from Venezuela. They get the oil from Venezuela, however they do not have any cash from Venezuela. They do not have any oil," Trump added.

Trump in January had declared a national emergency through an govt order over Cuba, accusing the communist regime of aligning with hostile overseas powers and terrorist teams whereas shifting to punish nations that provide the island nation with oil.

MILLONS LOSE POWER ACROSS CUBA AS TRUMP SANCTIONS CONTINUE TO FUEL ONGOING ENERGY CRISIS

President Donald Trump, middle, Dominican Republic President Luis Abinader, second from left, Argentina's President Javier Milei, El Salvador's President Nayib Bukele, Guyana's President Mohamed Irfaan Ali, Costa Rica's President Rodrigo Chaves Robles, Bolivia's President Rodrigo Paz and Chile's President-elect Jose Antonio Kast pose for a household picture in the course of the Protect of the Americas" Summit in Doral, Fla., on Saturday, March 7, 2026. (Kevin Lamarque/Reuters)

Trump mentioned Saturday that Cuba is "negotiating with [Secretary of State] Marco [Rubio] and myself and a few others. And I might assume a deal can be made very simply with Cuba."

"However Cuba is in its final moments of life because it was. It's going to have an excellent new life, however it is in its final moments of life, the best way it's," the president added.

The State Division described the Protect of the Americas Summit in Doral as a gathering of the "strongest likeminded allies in our hemisphere to advertise freedom, safety, and prosperity in our area."

Trump mentioned America’s "focus proper now's on Iran," however "a lot of you've gotten come at this time, and so they say, ‘I hope you possibly can deal with Cuba since you've had issues with Cuba, proper? You talked about."

President Donald Trump and Venezuela's appearing President Delcy Rodriguez. (Jessica Koscielniak/Reuters; Leonardo Fernandez Viloria/Reuters)

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"I used to be stunned, however, 4 of you mentioned, really, ‘might you do us a favor? Maintain Cuba.’ I am going to deal with it, okay?" Trump mentioned, garnering applause.