WASHINGTON, CARACAS – The United States is increasingly targeting Venezuela not only for its vast oil reserves, but also for strategic minerals essential to modern technology and the global energy transition, according to a recent analysis by the International Crisis Group.
The report suggests that Washington’s strategy in 2026 is broader than previously understood. While Venezuela has long attracted attention for its massive oil reserves, U.S. interest is now also shifting toward critical minerals, including rare earth elements used in batteries, defense systems, and high-tech industries.
This approach is part of a wider geopolitical strategy aimed at reasserting U.S. influence in the Western Hemisphere while limiting China’s access to key raw materials. China currently dominates global supply chains for many of these minerals, particularly in processing and refining.
Venezuela’s resource wealth has increasingly placed the country at the center of a global competition for critical materials. Experts note that U.S. efforts to secure access to these resources are closely tied to supply chain security and technological competitiveness, especially as demand for minerals rises due to electrification and digitalization.
However, the strategy is not without risks. Parts of Venezuela’s mining regions are controlled by armed groups, including Colombian guerrilla movements. This creates complex ethical and operational challenges for companies seeking to operate in the country, as involvement in these areas may expose them to human rights concerns and illicit activities.
Analysts warn that the U.S. approach in Venezuela is evolving beyond traditional objectives such as political influence or regime change. Instead, it increasingly reflects a broader global struggle over access to the raw materials that will shape future economic and technological power.
The developments highlight Venezuela’s growing importance not only as an energy producer, but also as a key player in the emerging global competition for strategic resources.