President Donald Trump said Thursday he believed Tehran wanted to make a deal to avoid military action, adding that the US "armada" near Iran was bigger than the one he dispatched to topple Venezuela's leader.

Venezuelan lawmakers have approved a law change that will make it easier for foreign companies to take part in the country’s oil industry, in a move by Caracas to meet the demands of US President Donald Trump.

WASHINGTON, DC – In the weeks since the United States snatched Venezuelan President Nicolás Maduro, the Trump administration has been selling the country's oil stash, netting millions of dollars and prompting concerns from lawmakers and industry insiders about corruption.

Venezuela moves to privatize its oil industry after U.S. intervention, a shift driven by Trump’s push to reshape energy policy.

The Trump administration has targets but no endgame.

The United States will allow Venezuela to sell oil that's currently under American sanctions and use the proceeds to pay for basic government services

Trump said he instructed U.S. Transportation Secretary Sean Duffy and U.S. military leaders to open up the airspace by the end of the day.

President Donald Trump said he instructed the U.S. to open up “all commercial airspace” over Venezuela.

The new policies mark a shift toward normalizing relations following Maduro’s capture earlier this month.

Commercial airspace over Venezuela is set to reopen soon, allowing U.S. citizens to travel to the South American nation, President Trump announced Thursday. “I just spoke to the president of Venezuela,

This used to be one of the world's most productive oil basins, and along with the city of Maracaibo, across the lake, is seen as key to President Donald Trump's plan to get US firms to invest $100bn (£75bn) to rebuild Venezuela's energy industry. The country has the world's largest proven oil reserves, estimated at about 303 billion barrels.