On Wednesday, Miller’s remarks have intensified the scrutiny surrounding the Trump administration’s assertion that drug smuggling is the main source of tension with Venezuela, as reported by Al Jazeera.
In a social media post, Miller, the White House deputy chief of staff, asserted that the U.S.’s hard work, creativity, and dedication were fundamental in creating the oil industry in Venezuela.
The confiscation was described as the most significant theft of American wealth and property in history. The seized assets were subsequently utilized to finance terrorism and inundate communities with criminals, mercenaries, and narcotics.
US and British firms played a role in the initial stages of oil exploration in Venezuela. However, according to the principle of permanent sovereignty over natural resources enshrined in international law, the oil reserves are considered the property of the Latin American nation.
In 1976, Venezuela took decisive action to nationalize its oil industry, placing it under the jurisdiction of the state-owned enterprise, Petróleos de Venezuela, S.A. (PDVSA).
In 2007, the late leftist leader Hugo Chavez undertook the nationalization of the remaining foreign-operated oil ventures in Venezuela.
