Venezuela's creditors recently held discussions with Trump administration officials to explore the country's reconstruction following its political transition. This meeting indicates that creditors are seeking to protect their interests as the new U.S. government takes the lead in restarting Venezuela's oil industry.
According to informed sources, the talks addressed Venezuela's approximately $150 billion in external debt, including claims against state-owned oil company PDVSA and the rights of sovereign bondholders. Creditors hope that by participating in the nation's rebuilding efforts, they can ensure their claims are properly addressed in any future debt restructuring.
Since U.S. military intervention in Caracas in January 2026, the Trump administration has quickly become involved in reconstructing Venezuela's oil sector. On January 9, Trump signed an executive order declaring a national emergency, aimed at protecting Venezuelan oil revenues held in U.S. Treasury accounts from seizure by creditors. The order invoked the International Emergency Economic Powers Act, classifying Venezuelan oil income as "foreign government deposit funds" and clarifying that these assets are not subject to judicial claims by private creditors.
However, there is notable tension between creditor demands and the Trump administration's stance. During a January 9 meeting with oil executives, Trump stated that the U.S. would start "from scratch" and suggested that companies such as ConocoPhillips, which holds claims of around $12 billion, should treat their losses in Venezuela as write-offs. This position has raised concerns among many creditors about their prospects for recovery. Analysts note that while creditors currently have an opportunity to communicate with the government, the Trump administration appears to prioritize attracting major oil investments and restarting oilfield production over meeting bondholders' repayment demands.
The meeting comes at a time when conflict in Iran has driven up global oil prices, creating a favorable market for Venezuela's heavy crude. Creditors aim to avoid being sidelined in future debt negotiations by actively engaging in reconstruction discussions now.
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