English transcript

So, um, as we move forward, we'll describe our

process, which is a three-fold process in Venezuela.

I've described it to them now. Step one is the

stabilization of the country. We don't want

it descending into chaos. Part of that stabilization,

and the reason why we understand and believe

that we have the strongest leverage possible

is our quarantine. As you've seen today, two

more ships were seized. Uh, we are in the midst

right now and in fact about to execute on a

deal to take all the oil. They have oil that

is stuck in Venezuela. They can't move it because

of our quarantine and because it's sanctioned.

We are going to take between 30 and 50 million

barrels of oil. We're going to sell it in the

marketplace at market rates, not at the discounts

Venezuela was getting. That money will then

be handled in such a way that we will control

how it is dispersed in a way that benefits the

Venezuelan people, not corruption, not the regime.

So we have a lot of leverage to move on the

stabilization front. The second phase will be

a phase that we call recovery. And that is ensuring

that American, Western, and other companies

have access to the Venezuelan market a way that's

fair, also at the same time begin to create

the process of reconciliation nationally within

Venezuela, so that, uh, the opposition forces

can be amnestied and released and from prisons

or brought back to the country and begin to

rebuild civil society. And then the third phase,

of course, will be one of transition. Some of

this will overlap. Uh, I've described this to

them in great detail. We'll have more detail

in the days to follow.