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A speaker emphasizes shifting focus away from Saudi Arabia and toward Venezuela, stating that the country has more oil, infinite potential, and will open markets. The plan is to privatize all industry and move government operations out of the old sector. The speaker highlights Venezuela’s huge resources—oil, gas, minerals, land, technology—and notes its strategic location relative to the United States. The message asserts that American companies are in a “super strategic position to invest,” and that Venezuela will be “the brightest opportunity for investment of American companies, of good people that are going to make a lot of money.”

It's an honor to have President Zelenskyy of Ukraine here. We've been working closely together, and we've reached a very fair deal involving rare earth minerals that will benefit both our countries and the world. We've also had good discussions with Russia, and I spoke with President Putin. We're working to bring the war to a close, focusing on reducing casualties and rebuilding Ukraine. The previous administration didn't engage with Russia, but if I were president, this war would have never happened. Your soldiers have been brave, and we've provided equipment. We want to stop the shooting and finalize a deal, which I believe is close. (Speaker 1): I hope this agreement is the first step toward real security guarantees for Ukraine. We count on America's continued support, including infrastructure and security guarantees, and assistance to help bring our children home.

We're emphasizing to Ukraine the value of their rare earth materials as part of our support. We expect guarantees in return for the significant financial and equipment assistance we're providing. The European nations are lagging behind in their contributions, despite the closer proximity to the conflict. They should match our support, if not contribute even more, given their substantial financial resources. We're aiming to establish a deal with Ukraine where they secure our aid with their rare earth resources and other assets.

It's an honor to have President Zelenskyy of Ukraine here. We've had a long and productive relationship, and we've reached a very fair deal that benefits both our countries and the world. This deal involves rare earth minerals, and it represents a significant commitment from the United States. We've also had good discussions with Russia, including a conversation with President Putin, to try and bring the conflict in Ukraine to a close. We need to negotiate a deal to stop the loss of life and redirect resources to rebuilding. The previous administration wasn't even speaking to Russia, but we've initiated talks and see the confines of a deal. If I were president, this war would have never happened. Your soldiers have been incredibly brave, and now we want to bring this to an end. We'll be signing the agreement shortly, and we're hopeful that we're close to a deal.

Yesterday, I addressed the Federal Assembly of the Russian Federation, emphasizing the importance of significantly reducing our country's accumulated net emissions by 2050 in the context of social and economic development. I also mentioned considering preferential treatment for foreign entities. It is crucial to highlight that Russia is genuinely interested in enhancing international cooperation.

The United States has the largest reserves of oil and gas in the world, and we may soon see significant growth in our country. For years, we have remained the same size, but that could change. Our focus will be on increased drilling, which is expected to lower prices and boost the economy.

I believe this mineral field will be transformative, and the relationship will be overwhelmed. I spoke with Zelensky this morning, and my advice is, don't take the bait. By the way, President Trump was in a very good mood last night.

Greenland has significant rare earth minerals, but currently, no Chinese firms are operating there. One company with Chinese ownership had its exploitation license denied two years ago. The Greenlandic government is focused on strengthening partnerships with the US and EU to attract investments in the mining sector, aiming to diversify the economy and promote growth. Greenland's future will be determined by its people, who prefer to remain part of the Western alliance rather than being governed by Denmark or the US. Cooperation with strong partners like the US is essential, as their security is intertwined with Greenland's.

It's an honor to have President Zelenskyy of Ukraine here. We've been working closely, and we have a fair deal to access rare earth resources. We've also had good discussions with Russia and President Putin to try and bring an end to the war. They're losing thousands of soldiers, and we want the fighting to stop so we can focus on rebuilding. The previous administration didn't speak to Russia, but I believe if I were president, this war would have never happened. We're going to sign an agreement, and I think we're fairly close to a deal.

Trump implemented a loan system to help Ukraine access its $10-12 trillion worth of critical minerals, making it potentially the richest country in Europe. By supporting Ukraine, we can secure these assets for the West instead of letting Putin and China benefit. It's crucial to assist Ukraine in winning the war and not allow Putin to control these valuable resources.

It's an honor to have President Zelenskyy here. We've been working closely together, even navigating a few disagreements to reach a fair deal that benefits both our countries and the world. We're looking forward to working together on rare earth resources. I've also had good discussions with President Putin, aiming to end the war. We're losing too many soldiers and want to redirect resources to rebuilding. The previous administration didn't engage with Russia, but I believe I can negotiate a deal, showcasing the bravery of Ukrainian soldiers. I hope this agreement will be a crucial step toward security guarantees for Ukraine. We count on continued American support, and I want to discuss details further, including drone production, air defense, and the return of stolen Ukrainian children. We must stop Putin, a killer and terrorist, to save our country, values, freedom, and democracy.

It’s an honor to have President Zelenskyy of Ukraine here. We've been working closely together for a long time and have negotiated a fair deal to obtain rare earth minerals that we need for AI, weapons, and our military. I've also had good discussions with President Putin to try and bring the war to a close. If I were president, this war would have never happened. We've given Ukraine great equipment and credit to their brave soldiers. We're going to sign the agreement shortly, and I think we're fairly close to a deal to stop the shooting. I hope this document will be the first step to real security guarantees for Ukraine. We count on America's continued support, including licenses for air defense and your strong position to stop Putin.

The speaker announces plans to open Venezuela for foreign investment, describing a $1,700,000,000,000 opportunity across multiple sectors. The opportunity is not limited to oil and gas, which are highlighted as huge, but also spans mining (including gold), infrastructure, and power. The speaker emphasizes that the opportunities will touch the entire energy value chain, stating that they will open all upstream, midstream, and downstream activities to all companies. In addition to energy, the speaker identifies opportunities in technology, AI, and tourism. They note that Venezuela has 2,800 kilometres of pristine Caribbean coastland ready to be developed, suggesting significant potential for coastal or tourism-related projects. A central part of the plan is to establish a favorable environment for foreign investment. The speaker asserts that they will bring rule of law, open markets, and security for foreign investment. They also mention a transparent massive privatization program that is waiting for investors, implying a broad and clear path to privatizations as part of the reform agenda. Key points highlighted include: - A $1.7 trillion opportunity encompassing oil and gas, mining (gold), infrastructure, and power. - The energy sector potential described as DRIP with 17 gigawatts of opportunity that needs rehab, indicating substantial modernization and development needs. - Broad openness to investment across the entire oil and gas value chain: upstream, midstream, downstream. - Additional growth areas in technology, AI, and tourism. - 2,800 kilometres of Caribbean coastline ready for development. - Commitments to rule of law, open markets, security for foreign investment, and a transparent privatization program designed to attract international investors. The overall message is that Venezuela is positioning itself as a major, diversified investment destination with a comprehensive framework to protect and promote foreign investment, underpinned by large-scale privatization and development of a broad range of sectors.

The Alaska Summit reinforced my belief that while difficult pieces within reach, I believe that in a very significant step, President Putin agreed that Russia would accept security guarantees for Ukraine, and this is one of the key points that we need to consider. We're going to be considering that at the table, also, like who will do what, essentially. I'm optimistic that collectively we can reach an agreement.

It's an honor to have President Zelenskyy here; we've worked closely together for a long time. We've reached a fair deal, giving the U.S. access to rare earth elements and we've had good discussions with Russia to bring the war to a close. President Putin and I are working towards a deal to stop the soldier deaths and rebuild Ukraine. The Biden administration didn't engage with Russia, but if I were president, this war never would have happened. Ukraine's soldiers have been brave, and it's time to end this. We'll sign an agreement soon, aiming for a deal to stop the shooting. I hope that it is a first step to real security guarantees for Ukraine and our people, our children. I hope that America continues to support our freedom, our values, and democracy. I want to stop Putin; he's a killer and terrorist. We spoke about drones and air defense because after the war, we need to know that our nation is secure and we have an air shield.

We would be ready to offer our American partners, including administrative, governmental structures, and companies, to work together. We have far more resources of this kind than Ukraine. Russia is a leader in reserves of these rare and rare earth metals, located in the north in Murmansk, in the Caucasus in Kabardino-Balkaria, in the Far East, in the Irkutsk region, in Yakutia, and in Tyva. These are capital-intensive investment projects. We would be happy to work with any foreign partners, including American ones, and on new territories as well. We are ready to involve foreign partners in our newly acquired historical territories, which have been returned to the Russian Federation, as there are certain reserves there too. We are ready to collaborate with our partners, including American ones.

Speaker 0 emphasizes the strategic importance of the region by detailing its international alignments and vast natural resources. He notes that he maintains relationships with Russia, describing Russia as a number two adversary in the region, and he references Cuba, Venezuela, and Nicaragua as countries connected with Russia. He argues that the region matters precisely because of its rich resources and rare earth elements, making it a critical area for national interests. A central point is the Lithium Triangle, which he identifies as containing 60% of the world’s lithium. He specifies the countries of the Lithium Triangle as Argentina, Bolivia, and Chile, underscoring the triangular region as the primary source of one of today’s essential technologies. In addition to lithium, he highlights Guyana for its energy potential, mentioning the discovery of the largest oil reserves of light sweet crude off Guyana over a year ago, which he presents as a significant development in regional energy resources. He also notes Venezuela’s substantial natural resources, listing oil, copper, and gold as part of the region’s economic assets. Beyond mineral and fossil energy riches, he points to the Amazon, describing it as the lungs of the world, and he emphasizes environmental and geopolitical importance by noting that the region contains 31% of the world’s fresh water. Overall, Speaker 0 paints a picture of a region with extraordinary resource wealth and strategic significance. He stresses that these assets—lithium, oil, copper, gold, vast freshwater supplies, and the Amazon—coupled with geopolitical relationships, render the region extremely consequential. The speaker concludes by asserting that the region’s importance extends to national security and that it is necessary to “step up our game” to address the opportunities and challenges that come with these resources and connections.

Mario: Let's start with Venezuela. Do you think this is a strategy by Trump? Larry: I saw something similar back in 1988. The CIA was involved with trying to provoke Manuel Noriega into taking some action, so we could say we had to respond to set the stage for a military invasion, which I believe that in 2018, Donald Trump signed a finding authorizing a covert CIA action to get rid of Maduro. That attempt failed. And now the objective is to get control of the oil. That's the number one priority, with an eye toward the risk of a renewed Iran conflict and the prospect of shutdown of the Persian Gulf, and the need to have an alternative supplier. Ukraine defeating Russia was the plan, and Russia’s military is now around 1,500,000. Mario: What’s your initial reaction to Venezuela? I talked to John Kuriaki who said to read naval movements to gauge what the military plans. The buildup on the coast of Venezuela is significant. They’ve got 14, 12 warships, including the Gerald Ford. Do you think they are bluffing or this is a Trump strategy? Larry: It could be a bluff. I saw something similar in 1988. I was in the Central America branch, and the CIA’s analytical thrust was to provoke Noriega into taking action to justify a response and invasion. That happened in 1988. But that time there were US bases in Panama; Quarry Heights was full. Southern Command was there. Now Southern Command has moved to Miami, just near Southcom. Another issue: within the military, the concept of supported and supporting commands means the special operations command (SOCOM) would normally be the supporting commander, but here Southern Command would be subordinate to SOCOM, which is problematic because SOCOM cannot fight a conventional war. Delta Force, SEAL Team Six, and others are light infantry for raids, not mass warfare. So launching shells or sending ground forces won’t solve Venezuela; terrain is rugged and favors ambushes. If US troops ashore, body bags would likely exceed those from Iraq and Afghanistan. Venezuelans will fight, and insurgents from Brazil and Colombia could join. Decapitation strikes against Maduro could provoke an insurgency that the US would struggle to pacify. Mario: Could we see a decapitation strike like Israel against Hezbollah and Iran? Larry: Decapitating Maduro would still leave loyalists and other actors with weapons; an insurgency could erupt, and the US would be unable to pacify it. The real objective here is unclear. The State Department’s INL/INSCR programs have long documented Venezuela as a transit point for drugs; Trump claimed fentanyl is the issue, but most cocaine also goes to Europe. The 2018 Trump era mentioned the Trendy Aragua as a pretext to justify covert actions; I believe Trump signed a finding authorizing a CIA operation to remove Maduro, leading to Guaidó, but that failed. The broader agenda appears to be regaining oil influence and countering Russia, China, and Iran’s influence in Venezuela. Mario: Elaborate the agenda and strategy behind these strikes on boats out of Venezuela and Trump’s public acknowledgement of a CIA covert operation. What’s the strategy and intention? Larry: The objective is to restore oil control in Venezuela and reduce adversary influence. Maduro once aligned with the CIA, and Chavez/Maduro have maintained cordial relations with Moscow and Beijing. The US aims to curtail BRICS and reduce Venezuelan ties to Russia, China, and Iran, potentially moving Venezuela away from the dollar-based system. The theory that this is a message to Putin circulates, but if that were the aim, it’s a poor strategy given the broader geopolitical dynamics in Syria, Iran, and the Palestinian-Israeli arena. The US previously overpromised in the Red Sea and failed to secure freedom of navigation, signaling limited military capacity for large-scale campaigns. The objective of any Venezuela action must be concrete, otherwise it risks entanglement in an insurgency. Mario: Turning to general foreign policy under Trump. What about the national security strategy? Europe’s criticisms, and Trump’s approach to Ukraine—Witkoff and Kushner meeting Putin? Larry: The 2025 national security strategy signals change, but these documents are not blueprints; they’re guidelines. Europe is being asked to step up, while the US distances itself, arguing Europe’s resources and industrial capacity have diminished while Russia and China shift. Europe’s censorship and defense spending are under scrutiny. The US–UK intelligence relationship still lingers, but overall the West’s ability to project force is questioned. Russia and China’s relationship is deep and mutually reinforcing; the Rand Corporation’s earlier ideas that Ukraine would defeat Russia to force Moscow to join the West have not materialized. Ukraine’s fight has forced Russia to mobilize and shift front lines; casualty counts are contested, but Russia’s front has expanded with a larger force and higher attrition. Mario: What about Ukraine negotiations and Putin’s terms? Larry: Putin’s terms (as stated on 06/14/2024) are: Crimea, Zaporizhzhia, Kherson, Donetsk, and Luhansk permanently part of Russia; Ukraine must withdraw forces from those territories before negotiations begin. An election must be held in Ukraine with a legitimately elected president, potentially replacing Zelenskyy, and Russia would then talk to Ukraine. Russia’s stance treats these territories as non-negotiable; freezing lines is not acceptable to Russia. If negotiations fail, Russia is likely to maintain control over large parts of Donbas and southern Ukraine, potentially extending into Kharkiv and Odessa. Western military support is insufficient in scale to match Russia’s production; Russia’s oil revenue remains a significant portion of GDP, and the global south is pivoting toward BRICS, with Modi’s meeting signaling stronger ties with Russia and China. The strategic trend is a shift away from Western dominance toward a multipolar order. Mario: Larry, appreciate your time. Larry: Pleasure as always, Mario.

Speaker 0: China appears to be the only country pushing back against Trump’s tariff stance, with other countries—including neighboring ones and India—reaching deals with Trump. India, which initially showed resilience, moved toward China after the Shanghai summit and the tariffs. Recently, India and the US signed a deal to gradually reduce Russia oil exports to 50% of imports. This suggests China is the sole major power resisting the US in this round of measures. The discussion then shifts to a broader pattern: the US has overplayed its hand in its dollar dominance and control of the financial system via SWIFT. In the wake of sanctions on Russia after the Ukraine conflict—freezing assets and limiting access to SWIFT—many nations have begun moving away from the US dollar toward gold. The speaker sees China’s current move as accelerating other countries’ push toward self-reliance, particularly in rare earths. The US is investing in its own rare earth industry, while Europe seeks alternatives. There is mention of a US deal with Ukraine involving rare earths, and speculation that Greenland’s abundant rare earth reserves could be relevant to what Trump sought with Greenland. The long-term downside or repercussions for China from this move are noted. Speaker 1: The discussion distinguishes between the financial sanctions used after the Ukraine war and the current situation. While sanctions are not perfect substitutes for dollar assets like crypto or gold, they remain available, so US leverage is not as strong as China’s leverage in rare earths. The speaker agrees that in the long term, China’s move will push other countries to build processing capacity for rare earths. Although rare earths are not truly rare, the processing and concentration are. Countries will be motivated to develop processing facilities. Japan is innovating substitutes for rare earths, which may take time and will not provide immediate relief for the US.

Russia is rich in natural resources like oil, gas, diamonds, and more. However, a country's wealth is not solely based on resources. It depends on government policies that support people's creativity, initiative, and desire to improve their lives.

Speaker: The region matters with all of its rich resources and rare earth elements. I’ve got, of course, Cuba, Venezuela, and Nicaragua with Russia relationships. Why this region matters: the Lithium Triangle—60% of the world’s lithium is in Argentina, Bolivia, Chile. You also have the largest oil reserves, light sweet crude discovered off of Guyana over a year ago. You have Venezuela’s resources as well with oil, copper, gold. We have the Amazon, lungs of the world. We have 31% of the world’s fresh water in this region too. It’s off the charts. We have a lot to do. This region matters. It has a lot to do with national security, and we need to step up our game.

It's an honor to have President Zelenskyy of Ukraine here. We've been working very closely together for a long time and have negotiated a fair deal that benefits both countries and the world. This agreement involves rare earth elements, which are crucial for our technology and military. We've also had good discussions with Russia, including President Putin, to try and bring this conflict to a close. The loss of soldiers on both sides is devastating, and we want to see it stop so we can focus on rebuilding. My administration is actively engaged in finding a deal, which I believe is possible. We give Ukraine great credit for their bravery and are committed to supporting them. It's time to end this war.

Ukraine has biological research facilities that we are concerned Russian forces may try to control. We are collaborating with the Ukrainians to secure these research materials and prevent them from falling into Russian hands.

I may be meeting with President Zelensky soon to sign an agreement, hopefully in the Oval Office. We're finalizing a deal involving rare earths and other elements that would benefit both of our economies. Regarding critical minerals with Ukraine, we're nearing a deal where we'll recoup our investment over time, which will greatly benefit their country. We've invested $350 billion. The previous administration is to blame for this, but we should be able to work it out. The Europeans, who have also invested a substantial amount, have been understanding and cooperative in resolving this issue. We're very close to a deal with the Ukrainians; we are on the one yard line.

I'm thankful to the American people, President Trump, and Congress for the support you've given us these last three years. We are strategic partners, and we need to be honest with each other to stop Putin. I respect President Trump's desire to end this war, but no one wants it more than we do. We need him and our European partners to pressure Putin. I respect President Trump and the American people, and I don't believe we've done anything wrong. We need to openly discuss Ukraine's position. We are ready to sign the minerals deal as a first step towards security guarantees, but it’s not enough. I wanted to share my thoughts with the President because this is sensitive for our people, who want to know America is on our side. I want a just and lasting peace with security guarantees.