U.S. Defense Secretary Pete Hegseth clarified President Trump’s claim that the United States is “going to run Venezuela,” emphasizing that the statement refers to strategic control rather than boots on the ground. In a recent interview, Hegseth explained, “It means we set the terms. President Trump sets the terms…it means the oil that was taken from us is returned.”

According to Hegseth, the U.S. approach focuses on stopping illicit drug flows, repatriating criminals, and reclaiming oil that was nationalized from American firms decades ago. Venezuela’s 1976 oil nationalization under President Carlos Andrés Pérez legally transferred control of the country’s petroleum assets to state-owned PDVSA. At the time, U.S. companies such as Exxon received $160 million in compensation under documented agreements.

Hegseth stressed that the strategy is about influence and negotiation rather than permanent military occupation. By “setting the terms,” the U.S. aims to reestablish leverage over Venezuela’s resources and operations, ensuring regional security and stabilizing markets that were historically dependent on Venezuelan heavy crude.

The remarks provide context for the Trump administration’s assertive posture toward Venezuela, framing it as a multi-dimensional effort to secure economic and security objectives while avoiding direct conflict on the ground.