Trump hits oil states

GZERO World with Ian Bremmer

GZERO Media

International Relations, Government, Foreign Policy, Gzero World, News Commentary, Trump, News, Global Economy, Geopolitics, Politics, Ian Bremmer

4.6 • 684 Ratings

🗓️ 2 November 2025

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

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Summary

US President Donald Trump has been piling the pressure on Russia and Venezuela in recent weeks. He placed sanctions on Russia’s two largest oil firms and bolstered the country’s military presence around Venezuela – while continuing to bomb ships coming off Venezuela’s shores. But what exactly are Trump’s goals? And can he achieve them? And how are Russia and Venezuela, two of the largest oil producers in the world, responding? GZERO's Zac Weisz and Riley Callanan discuss.

Transcript

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0:00.0	Hi, Riley.
0:00.9	Hi, Zach.
0:01.7	How are you today?
0:02.9	I'm very well.
0:03.6	How are you?
0:04.3	I'm ready to talk some politics. Great. We're just in the right place. What should we talk about? I think I'd love to start by hearing about what you wrote about this week. Sure. So, I wrote about Russia this week. I've heard of it. Yes, it's a big country, a very big country. Not as big as it once was, though.
0:21.5	No.
0:22.2	The biggest lie landmash, I should clarify,
0:24.0	not the biggest by population. I've heard of it. Yes, it's a big country, a very big country. Not as big as it once was, though.
0:21.5	No.
0:22.2	The biggest lie landmash, I should clarify, not the biggest by population. And no, it wasn't, it's not quite as big as it once was. But the US has put new sanctions on Russia. Dant, don't, da. Exactly, yes. New sanctions. New sanctions. Now there's been a lot of sanctions on Russia over the last few years ever since it began.
0:38.5	It's a full-scale invasion of Ukraine. new sanctions. Now, there's been a lot of sanctions on Russia over the last few years ever since it
0:38.2	began. It's a full-scale invasion of Ukraine at the start of 2022. So why are these different?
0:45.2	Well, these are the two largest Russian oil firms, Rosneft and Luke oil that have been sanctioned.
0:53.4	And that's significant because the Biden administration wasn't even willing to go this far.
0:58.0	They sanction the third and fourth biggest Russian oil firms, not the foot top two.
1:02.0	And now the Trump administration is doing just that.
1:05.0	Why were they worried about why not go for the big ones?
1:08.0	Why were they hesitant to sanction these?
1:10.0	They were very concerned that by putting these sanctions on, it would increase the price of oil significantly,
1:16.6	and that would increase inflation as well, which the Biden administration had a massive problem with during its time in office.
1:23.6	So, yeah, they didn't want to put those sanctions on. Now, the markets were not as
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