Fact Check: Is Trump's claim that Venezuela 'stole' oil and land from US true?

WASHINGTON, DC: Amid ongoing tensions with Venezuela, President Donald Trump has claimed that the South American country has seized American assets, including oil and land, announcing measures such as an oil tanker blockade in response.

Trump's post has been circulating on social media, sparking speculation about the claim. Let's verify the claim.

Claim: Venezuela stole oil and land from US

This month, a rumor began to spread on social media that President Trump said Venezuela stole "oil, land, and other assets" from the US.

A Facebook post shared the claim, asking jokingly whether Venezuela had taken "part of Florida."

The claim also appeared on Threads with an image that shows a Truth Social post by Trump saying these words.

On Tuesday, December 16, Trump posted on Truth Social, ”Venezuela is completely surrounded by the largest Armada ever assembled in the History of South America." 

"It will only get bigger, and the shock to them will be like nothing they have ever seen before — Until such time as they return to the United States of America all of the Oil, Land, and other Assets that they previously stole from us. The illegitimate Maduro Regime is using Oil from these stolen Oil Fields to finance themselves, D**g T*******m, Human T*********g, Murder, and Kidnapping," he said.

"For the theft of our Assets, and many other reasons, including T*****ism, D**g Smuggling, and Human T*********g, the Venezuelan Regime has been designated a FOREIGN T*******T ORGANIZATION. Therefore, today, I am ordering A TOTAL AND COMPLETE BLOCKADE OF ALL SANCTIONED OIL TANKERS going into, and out of, Venezuela," the post continued.

"The Illegal Aliens and Criminals that the Maduro Regime has sent into the United States during the weak and inept Biden Administration, are being returned to Venezuela at a rapid pace. America will not allow Criminals, T********s, or other Countries, to rob, threaten, or harm our Nation and, likewise, will not allow a Hostile Regime to take our Oil, Land, or any other Assets, all of which must be returned to the United States, IMMEDIATELY. Thank you for your attention to this matter!" Trump concluded.

Fact check: Claim is not accurate

According to a fact-check verdict by Grok, the claim is not accurate as Venezuela did not steal oil or land directly from the US government or its sovereign territory. 

But Trump’s claim seemed refer to 2007, when the regime of then-President Hugo Chávez ordered the seizure of oil fields and other assets that belonged to the US, including the oil companies such as ExxonMobil, Chevron, and ConocoPhillips, Norway's Statoil, and France's Total.

The international tribunal ruled that these expropriations required compensation, which was paid by the country. While it is considered as international seizure under international law, it does not amount to the theft of assets owned by the US.

Historical context and background

Venezuela, which has the world’s largest oil reserve and has long attracted foreign investment and interest, did this to nationalize the country's oil industry.

While Chevron struck a deal with the Venezuelan government, ExxonMobil's and ConocoPhillips' operations and assets moved to the state-owned oil company Petroleos de Venezuela SA.

The two companies then spent years in legal battle against the Venezuelan government for compensation.

The US relationship with Venezuela deteriorated after Trump took office in January 2025 and ordered a military buildup around the country.

The US military even struck the boats coming out of Venezuela, alleging, without providing evidence, that the boats belonged to "narco-terrorists," leading tan allegation that the US may have committed war crimes.