Commodities February 12, 2026

Trump Says Energy Donor Lacks Authority to Represent U.S., Calls Ties With Venezuela "Extraordinary"

President distances administration from billionaire oil entrepreneur Harry Sargeant III while praising relations with Venezuela and U.S. envoys

By Hana Yamamoto
Trump Says Energy Donor Lacks Authority to Represent U.S., Calls Ties With Venezuela "Extraordinary"

President Donald Trump posted on Truth Social that billionaire energy entrepreneur Harry Sargeant III does not have authority to represent the United States, and described relations between Washington and Venezuela as "extraordinary." The statement comes after reports that Sargeant and his team had been advising the administration on ways to facilitate a return of some U.S. oil companies to Venezuela, a role Sargeant has said was informal.

Key Points

  • President Trump stated that Harry Sargeant III has no authority to represent the United States and emphasized State Department approval is required.
  • Trump described U.S.-Venezuela relations as "extraordinary" and praised interactions with Venezuelan interim President Delcy Rodriguez and U.S. envoys.
  • Sargeant has long-standing commercial ties to Venezuela’s oil sector and has been reported to have informally advised the administration on returning U.S. oil companies to Venezuela; he has denied being a formal adviser.

President Donald Trump on Thursday publicly disavowed any authority for billionaire energy entrepreneur and Republican donor Harry Sargeant III to act as a U.S. representative, while characterizing relations between the United States and Venezuela as highly positive.

In a post on Truth Social that appeared to respond to a Wall Street Journal story published on Wednesday, Trump wrote: "He has no authority, in any way, shape, or form, to act on behalf of the United States of America, nor does anyone else that is not approved by the State Department. Without this approval, no one is authorized to represent our Country."

The president also praised the quality of interactions between Washington and Venezuelan officials, singling out Venezuelan interim President Delcy Rodriguez and U.S. representatives. "Relations between Venezuela and the United States have been, to put it mildly, extraordinary!" he wrote, adding that "we speak only for ourselves, and don’t want there to be any confusion or misrepresentation."

Those remarks follow reporting in January that Sargeant and his team had been providing advice to the Trump administration on how the United States could arrange for some American oil companies to resume operations in Venezuela, according to four sources familiar with the matter. Sargeant has said he is not a formal adviser.

Sargeant is described as having long-standing commercial ties to Venezuela’s oil sector, and as a golfing companion of President Trump as well as a Republican donor. His Venezuelan activities include businesses that buy and export asphalt - a product that can be produced from heavy crude oil of the type Venezuela exports - and investments in the production operations of several Venezuelan oil fields.

He has told Reuters that he has a long history of dealings with senior Venezuelan figures, including Delcy Rodriguez and U.S.-ousted President Nicolas Maduro. Sources cited in prior reporting said Sargeant has raised with U.S. officials the need for investment to upgrade Venezuela’s oil infrastructure.

According to Sargeant, in February 2025 he facilitated a meeting between special U.S. envoy Richard Grenell and Nicolas Maduro. Sargeant said that at that meeting the participants discussed the deportation of migrants back to Venezuela, the release of American prisoners, and the possible extension by the U.S. of a license allowing Chevron to operate in the country.


The president's post sought to clarify who is authorized to speak for the United States and to emphasize that any representative role requires State Department approval. It also reiterated the administration's public praise of ongoing engagement with Venezuelan officials.

This account of interactions involving a private energy entrepreneur, U.S. envoys and Venezuelan leaders highlights a set of informal and formal channels that have been reported to intersect around questions of oil operations and diplomatic issues. The statements made by the president, and the descriptions of Sargeant’s commercial and personal ties to Venezuelan oil interests, were provided without indicating any change to formal U.S. authorization processes.

Risks

  • Uncertainty about informal advisory roles - The article notes reports that Sargeant advised the administration while he has said he is not a formal adviser, creating potential ambiguity about who speaks for U.S. policy - impacting energy sector stakeholders and diplomatic channels.
  • Potential for misrepresentation - The president emphasized that only State Department-approved individuals may represent the U.S., indicating a risk of confusion over unauthorized representations that could affect negotiations involving oil companies and licenses.
  • Operational and licensing uncertainty for oil companies - Discussion of a possible U.S. license extension for Chevron to operate in Venezuela was noted, but the article provides no confirmation of any change, leaving energy firms' planning subject to unresolved policy decisions.

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