Trump meets with oil and gas execs to talk about Venezuelan infrastructure
This version of Trump Venezuela Mexico Iran Ukraine Greenland Congress Live Updates Rcna252277 - Politics and Government | NBC News Clone was adapted by NBC News Clone to help readers digest key facts more efficiently.
The president said Venezuela's cooperation on U.S. plans to rebuild its oil infrastructure contributed to his decision to call off a previously planned "second wave" of attacks on the country.
Highlights from Jan. 9, 2026
- OIL EXECUTIVES MEETING: President Donald Trump met with oil executives at the White House following the U.S. operation in Venezuela last week. The meeting comes after Trump announced that the country would "turn over" up to 50 million barrels of oil to the U.S. The president said the plan is for American oil companies to revitalize the country's oil infrastructure with their own money.
- VENEZUELA ATTACK: Trump said this morning that a “previously expected” second wave of attacks on Venezuela won't be necessary, in part because of the country’s cooperation on U.S. plans to rebuild its oil infrastructure following the extradition of its president, Nicolás Maduro.
- TANKER SEIZED: The U.S. seized an oil tanker in the Caribbean Sea overnight, just days after taking control of another that had fled the U.S. blockade of Venezuela.
- IRAN UNREST: Iran’s supreme leader accused protesters rocking the country of acting on behalf of Trump as Tehran struggles to contain the widespread protests that began two weeks ago over the country’s economic conditions.
Trump calls for 10% cap on credit card interest rates for a year
Trump called for a 10% cap on credit card interest rates for one year beginning Jan. 20 — the anniversary of the start of his second term — on Truth Social this evening.
"Effective January 20, 2026, I, as President of the United States, am calling for a one year cap on Credit Card Interest Rates of 10%," Trump posted on social media.
He did not provide any details, nor can the president unilaterally cap interest rates.
Trump's post came shortly after Sen. Bernie Sanders, I-Vt., said on social media — including Instagram — that instead of capping interest rates at 10%, Trump “deregulated big banks charging up to 30% interest on credit cards.”
“The result? Last year, JPMorgan CEO Jamie Dimon made $770 million,” Sanders said. “Unacceptable.”
Billionaire Bill Ackman, who endorsed Trump for president in 2024, said on social media that Trump’s move “is a mistake.”
“Without being able to charge rates adequate enough to cover losses and to earn an adequate return on equity, credit card lenders will cancel cards for millions of consumers who will have to turn to loan sharks for credit at rates higher than and on terms inferior to what they previously paid,” Ackman tweeted.
Judge blocks Trump effort to withhold child care funds from states over fraud allegations
A federal judge ruled today that Trump’s administration cannot block federal money for child care subsidies and other programs aimed at supporting needy children and their families from flowing to five Democratic-led states for now.
The states of California, Colorado, Illinois, Minnesota and New York argued that a policy announced Tuesday to freeze funds for three grant programs is having an immediate impact on them and creating “operational chaos.” In court filings and a hearing earlier today, the states contended that the government did not have a legal reason for holding back the money from those states.
The U.S. Department of Health and Human Services said it was pausing the funding because it had “reason to believe” the states were granting benefits to people in the country illegally, though it did not provide evidence or explain why it was targeting those states and not others.
Washington National Opera to leave the Kennedy Center in wake of Trump renaming
The Washington National Opera today announced that it’s leaving the Kennedy Center, where it has performed for decades, in the latest high-profile departure following President Donald Trump’s efforts to reshape the iconic venue.
“To ensure fiscal prudence and fulfill its obligations for a balanced budget, the WNO will reduce its spring season and relocate performances to new venues,” the opera company said in a statement. “This is a decision centered on doing what is best for the WNO going forward after an amicable transition.”
Rep. Mike Quigley launches bid for Chicago mayor vowing to turn around a shrinking city
Rep. Mike Quigley, D-Ill., is making a run for Chicago mayor, the congressman confirmed to NBC News today.
Among the initiatives Quigley said he’d pursue: creating conditions for a thriving city that once again grows in population. The congressman said that means improving public safety and education but also creating predictability with property taxes, and removing bureaucratic hurdles, to make it easier for developers to build and renovate.
“We’re down a million in population from about 70 years ago. We need to be a pro-growth city that provides affordable housing, housing at all levels, so we fill the city back up,” he said.
Quigley was elected to Congress in 2009 after winning a special election, filling a vacancy left by Rahm Emanuel when he assumed the role of White House chief of staff to President Barack Obama.
Quigley enters the race amid speculation that first-term Mayor Brandon Johnson is set to announce a bid for a second term.
Trump says U.S. will ‘do something on Greenland whether they like it or not’
Trump ramped up his rhetoric on Greenland today, saying the U.S. will take action to acquire the longtime ally.
“We are going to do something on Greenland, whether they like it or not, because if we don’t do it, Russia or China will take over Greenland, and we’re not going to have Russia or China as a neighbor,” Trump told reporters at the White House.
The remarks come days after White House press secretary Karoline Leavitt said in a statement that Trump could use the military to “pursue this important foreign policy goal.” That came on the heels of major European allies issuing in a joint statement saying they would “not stop defending” the values of sovereignty and Greenland’s territorial integrity.
Greenland is a semi-autonomous Danish territory that’s strategically important militarily and contains vast mineral wealth. The U.S. already has a military base on the island, and officials there have said they’d accept an expanded military presence.
Trump says he wants to own Greenland to protect it from Russia and China
Asked by a reporter about why the president wants to own Greenland rather than just expand the U.S. military presence there, Trump said, "When we own it, we defend it. You don’t defend leases the same way. You have to own it."
"We’re not going to allow Russia or China to occupy Greenland, and that’s what’s going to happen if we don’t own it," he added.
Trump and Rubio again hint at Cuba operation
Trump and Secretary of State Marco Rubio again threatened a military operation against Cuba, who they say was supporting Maduro in Venezuela.
"Cuba is in bad shape. Cuba relied on Venezuela for oil and for money, and nobody really knows what’s going to happen with Cuba. They’re doing very poorly. They’re really Third World all the way," the president said.
Rubio told reporters: "The fundamental problem in Cuba is that it’s run by incompetent people that don’t know what an economy looks like, much less a functioning one. They’ve made a choice, and that is, they would rather have political control over the people than they would have an economy that functions."
He added, "We don’t have an interest in a destabilized Cuba, but that would be their fault, because they refuse to allow the people of Cuba to have either economic or political freedom."
Trump and Rubio for days have hinted about a possible future attempt at regime change in Cuba.
Trump previews security guarantees for oil companies in Venezuela
The president, at a roundtable with U.S. oil company executives, said they would have security to protect their activities in Venezuela.
"We’re going to work with the Venezuelan leaders and people. And we’re going to have a very safe group, and they’re going to also bring over some security with them," Trump told reporters.
He added later to the oil executives: "We’re going to make sure there’s very, very good security. And I think the people of Venezuela are going to give you very good security."
Trump says Venezuela 'open for business' with Russia, China
The president said he'd wanted to keep Russia and China out of Venezuela, but with the U.S.' new role, it's "open for business."
"I told China and I told Russia we get along with you very well, we like you very much, we don't want you there," he said.
"One thing I will tell them and I will tell you, that we are open for business. China can buy all the oil they want from us, there or in the United States. Russia can get all the oil they need from us," Trump said. "We'll be open for business almost immediately."
Trump: 'We have an armada' near Venezuela
Speaking about Venezuela, the president said that the U.S. has an "armada" nearby but that he didn't plan to use it against Venezuelans, whom he said are getting along well with the Trump administration.
"We have an armada, a giant armada like nobody’s ever seen in that part of the world, and it’s stationed off the coast," Trump said at the White House while meeting with U.S. oil executives. "And we are getting along so well with the people that are involved representing Venezuela that I don’t think we’re going to have any, I don’t think it’s going to be necessary to do the second wave."
Earlier this morning, the president said in a post on Truth Social that a planned second attack against the Venezuelan government was canceled. The first attack came last week, when the U.S. on Saturday captured Venezuela's president, Nicolás Maduro, and his wife.
"We were planning on a second wave, but the first wave was so powerful and so good and so strong, and frankly, the people in the country, they really they did the right thing. They were smart. They did the right thing. They didn’t want to go through a second wave," Trump added this afternoon.
Trump says oil companies will spend $100 billion in Venezuela
During his remarks at a roundtable with U.S. oil executives, the president announced that the companies are prepared to spend $100 billion to rebuild the oil infrastructure in Venezuela.
"The plan is for them to spend — meaning our giant oil companies — will be spending at least $100 billion of their money, not the government’s money," Trump told reporters.
He added, "They don’t need government money, but they need government protection and need government security that when they spend all this money, it’s going to be there so they get the money back and make a very nice return. The plan is for them to spend at least $100 million to rebuild the capacity and the infrastructure necessary."
Trump pointed to different ways Venezuelan oil can be used in the U.S., including to build roads.
He called Venezuelan oil "a heavy oil, very good oil, great oil."
Trump added, "It’s fantastic for certain things, like asphalt roads. Best there is in the world for asphalt roads and other things."
Judiciary Chair Jim Jordan will invite Jack Smith to testify at a public hearing
House Judiciary Chair Jim Jordan will invite former special counsel Jack Smith to testify in a public hearing, a source familiar confirmed to NBC News. This comes after Smith sat for an eight-hour closed-door deposition with the committee in December.
Politico first reported the news today.
“After Republicans forced Jack Smith into a backroom interrogation and rejected our calls for an open public hearing, now they decide they want a public hearing with Jack Smith after all,” said Rep. Jamie Raskin, the top Judiciary Democrat. He added that a public hearing is “a win for truth-seeking Americans and yet another looming humiliation for Donald Trump and Congressional Republicans.”
The Judiciary Committee released the entire transcript and video of the closed-door deposition. Smith told lawmakers that his team found “proof beyond a reasonable doubt” that Trump engaged in a “criminal scheme” to overturn the 2020 election results.
Trump's meeting with oil executives set to kick off shortly
The president's roundtable with oil executives is set to kick off momentarily. It comes as the president all week has been promoting his plan to sell Venezuelan oil and allow American oil companies to revitalize the oil infrastructure in the South American nation.
Trump announces February meeting with Colombian president
In a post on Truth Social this afternoon, Trump said he will host Colombian President Gustavo Petro at the White House in February.
"I look forward to having a meeting with Gustavo Petro, the President of Colombia, in the White House, during the first week of February," he wrote. "I am sure it will work out very well for Colombia, and the U.S.A., but, cocaine and other drugs must be STOPPED from coming into the United States."
Trump has long accused Petro of supporting the manufacturing of cocaine in Colombia.
Last week, after the military operation in Venezuela that led to the capture of that country's president, Trump told reporters when asked about Petro, "Well, he has cocaine mills. He has factories where he makes cocaine. And yeah, I think I stick by my first statement. He’s making cocaine. They’re sending it into the United States. So he does have to watch his ass."
In October, in a post on Truth Social, Trump called Petro an "illegal drug dealer," writing, “President Gustavo Petro, of Colombia, is an illegal drug leader strongly encouraging the massive production of drugs, in big and small fields, all over Colombia. It has become the biggest business in Colombia, by far, and Petro does nothing to stop it."
G7 summit shifting to accommodate Trump's schedule, White House says
The Group of Seven, or G7, summit in France “kindly shifted” its dates to “accommodate” Trump’s schedule, according to a White House official. The original dates were slated for June 14 to June 16 in Evian-les-Bains and now will take place a day later, from June 15 to June 17, so that Trump can participate.
“As the leader of the free world, our partners believed that President Trump’s attendance at the G7 Summit was essential,” the official said. June 14 is Trump’s birthday and it’s also when a major UFC event will be held on the South Lawn of the White House.
White House "reviewing protocols regarding economic data releases" after "inadvertent" early disclosure of jobs data
A White House official says the administration is “reviewing protocols regarding economic data releases” after Trump last night posted some information from today’s jobs report well before the information was officially announced.
Trump’s post, which went out at 8:20 p.m. ET yesterday, showed that the private sector added 654,000 jobs "since January." That data accurately matched the jobs report, which did not come out until 8:30 a.m. ET today.
A White House official conceded there "was an inadvertent public disclosure of aggregate data that was partially derived from pre-released information."
The “Employment Situation” report, as it is officially called, is one of the most market-sensitive announcements that the federal government makes and is reviewed intensely by businesses, investors and markets around the world.
Friday’s jobs report showed that the economy added 50,000 roles in December, which capped off the worst year for hiring since 2020.
The official said "President Trump’s policies are laying the groundwork for an economic resurgence."
Bessent announces anti-fraud initiatives in Minnesota
Treasury Secretary Scott Bessent announced today that the Trump administration is launching several initiatives to investigate alleged fraud in Minnesota.
At a press conference in Minneapolis, Bessent said his department will "target fraud here in Minnesota, and the Minnesota protocols will serve as a genesis and a launching pad for investigations into other states."
Bessent said the administration has "followed the money" in Minnesota and has identified money that have serviced businesses "that may have transferred taxpayer funds overseas." He said one of his teams "has just provided formal notification to these businesses that they are under investigation."
He also announced that the IRS civil enforcement is auditing financial institutions that he said "facilitated the laundering of Minnesota frauds."
"The IRS will also soon announce the formation of a task force to investigate any fraud and abuse involving pandemic era tax incentives and misuse of 501(c)(3) tax exempt status by entities implicated in the Minnesota based social services fraud schemes," he said.
The treasury secretary referred to the creation of a new assistant attorney general position, announced yesterday by Vice President JD Vance, who will investigate and oversee these probes by the administration into alleged fraud in various states.
"President Trump has instructed several agencies the in his administration, led by this new assistant attorney general, to end this fraud and recover funds for the American taxpayer," Bessent said.
Senators urged Apple and Google to remove Musk’s X and Grok from app stores over sexual deepfakes
Three Democratic senators urged Apple and Google to remove Elon Musk’s apps X and Grok from their app stores yesterday evening after xAI’s Grok artificial intelligence tool had been used to flood X with sexualized nonconsensual images of real people.
Hours later, X adjusted how Grok operated on the social media site, restricting its image generation to paying premium subscribers, and seemingly restricting what types of images Grok can create on X.
The Grok reply bot on X has churned out thousands of sexualized images an hour this week, mostly of women but at times of children. Early today, it appeared to have pivoted to limiting that feature on the social media app. But on the stand-alone Grok app and website, Grok will still create sexualized deepfakes.
State Department delegation travels to Venezuela
A U.S. delegation of diplomatic and security personnel from the Venezuela Affairs Unit, including Chargé d’Affaires John T. McNamara, traveled to Caracas today “to conduct an initial assessment for a potential phased resumption of operations,” a U.S. official said.
The department is making preparations to allow for a reopening of the U.S, Embassy “should the president make that decision,” a senior official confirmed earlier this week.
Iran cuts off internet as protests for regime change intensify
Mass anti-government protests are growing across Iran where demonstrators have taken to the streets to demand a regime change. Now authorities are trying to stifle the unrest by shutting down the internet nationwide, making it harder for protesters to organize and get their message to the world. It comes as Trump is warning the U.S. could intervene on the side of the demonstrators. Iran’s Supreme Leader Ayatollah Ali Khamenei responded that the president should focus on problems in his own country and claimed the demonstrators are being stoked from abroad. NBC’s Richard Engel reports for "TODAY."
Exclusive: Blasting Gavin Newsom, Trump weighs California wildfire rebuilding order
The White House is considering issuing an executive order in the coming days to address what the president views as an unacceptably slow permitting process that is limiting the rebuilding of homes destroyed in last year’s devastating Southern California wildfires.
The administration is drafting an order that would allow builders receiving federal funds to self-certify their compliance with California state and local building permits, circumventing local authorities to speed the building process, a source familiar with the White House deliberations told NBC News.
Fewer than a dozen homes have been rebuilt in the year since the Palisades and Eaton fires ripped through Southern California, killing 31 people and destroying more than 16,000 structures, mostly homes, The Associated Press reported, citing local and state data.
About 900 homes are under construction and could be completed this year, the news agency reported.
The White House’s proposed order would also direct the Federal Emergency Management Agency to investigate California’s use of other disaster-related federal funds, according to the source familiar with its contents. Trump has not yet signed off on the final order.
The president, who takes great pride in his own background as a builder, has repeatedly attacked Los Angeles Mayor Karen Bass and California Gov. Gavin Newsom, a possible 2028 Democratic presidential candidate, over their handling of California’s wildfire response and rebuilding effort.
In a Truth Social post last night, Trump labeled the pair “incompetent,” writing they are “absolutely unable to get people permits to rebuild there homes. All Federal permits have been issued and received, long ago!”
Newsom, in turn, has accused Trump of failing to respond to his request for billions in relief money and said the state and local governments have moved quickly to clear debris, pass legislation and issue permits to rebuild.
“It’s time for the president of the United States to do his job, not turn his back on Americans who happen to live in the great state of California," the governor said in his final State of the State speech yesterday.
Trump plans to make ballroom addition as tall as the White House
The White House unveiled its plans yesterday for Trump’s expansive ballroom inside a newly constructed East Wing, which includes a one-story addition. The addition would be as tall as the main White House structure, with the ballroom spanning 22,000 square feet and able to seat 1,000 guests for dinners and other events. NBC’s Kelly O’Donnell reports for the "TODAY" show.
U.S. seizes another oil tanker in the Caribbean
The United States has seized another oil tanker, two U.S. officials told NBC News today, as it works to control the flow of oil to and from Venezuela.
The Olina was seized overnight in the Caribbean Sea, an operation conducted by the Coast Guard and Joint Task Force Southern Spear.
It’s the latest such enforcement action, days after the U.S. seizure of the Bella 1, a Russian-flagged “shadow fleet” tanker that fled the American blockade and led to a weekslong chase. The U.S. also announced the seizure Wednesday of another sanctioned tanker, the Sophia, which it said was “conducting illicit activities in the Caribbean Sea.”
Trump says oil companies will invest at least $100 billion
The president said ahead of a meeting with oil executives at the White House today that they would spend at least $100 billion in Venezuela.
"At least 100 Billion Dollars will be invested by BIG OIL, all of whom I will be meeting with today at The White House," Trump said in his post on Truth Social this morning.
In an interview with Fox News host Sean Hannity last night, Trump said: "We're going to meet with the biggest oil people in the world. They're all coming here, the top 14 companies are coming here. They're going to go in. They're going to rebuild the whole oil infrastructure. They're going to spend at least 100 billion dollars, and it's an unbelievable oil that they have, and an unbelievable quality of oil and amount of oil."
Russia says U.S. freed crew members of seized oil tanker
The Kremlin has thanked the U.S. for the release of two Russian crew members from the oil tanker seized in the North Atlantic after a weekslong chase.
Moscow sent a submarine and a destroyer to guard the Bella 1, both of which “left very quickly when we arrived,” Trump said last night in an interview with Sean Hannity on Fox News.
“They decided not to mess around with us,” Trump added. The oil tanker had fled the U.S. blockade of Venezuela, changing its name to the Marinera and hoisting a Russian flag.
The U.S. Coast Guard cutter Munro shadowing the Bella 1 during the maritime interdiction operation. Department of Defense / via AP
The Russian Foreign Ministry said in a statement this morning that Trump "decided to release two Russian citizens from among the crew of the tanker Marinera.”
“We welcome this decision and express our gratitude to the U.S. leadership,” ministry spokeswoman Maria Zakharova said in the statement on Telegram.
Trump evaded a question about whether Putin had called him following the seizure. “I don’t want to say that,” Trump told Hannity last night.
The U.S. seized the Bella 1 in the North Atlantic on Wednesday in an operation that defied Russian warnings after a dramatic chase on the high seas. The ship is suspected to be part of Russia’s so-called “shadow fleet” fueling its wartime economy in circumvention of international sanctions.
Iran’s supreme leader accuses protesters of trying to please Trump
Iran’s supreme leader signaled a hard line against protesters rocking the Islamic Republic, accusing them of acting on behalf of Trump as authorities struggling to contain the unrest shut the country off from the world.
In his first major address to the nation since widespread demonstrations erupted almost two weeks ago, Ayatollah Ali Khamenei said protesters were “ruining their own streets to make the president of another country happy,” according to news agencies.
After Trump’s repeated threats to intervene, Khamenei said the president should focus on problems in the U.S.
Trump says U.S. to start 'hitting land,' warns drug cartels 'running' Mexico
Trump said the U.S. will expand operations against drug cartels, warning that gangs are "running" Mexico.
"We are going to start now hitting land. With regard to the cartels, the cartels are running Mexico," he said on Fox News last night. “It’s very, very sad to watch, and see what’s happened to that country.”
Trump has ratcheted up his criticism of the government of Mexico — whose powerful and violent cartels traffic huge amounts of fentanyl, methamphetamines, cocaine, heroin and marijuana — since the operation to capture Venezuela's Nicolás Maduro on Saturday.
Trump says second Venezuela attack not needed given cooperation
Trump said this morning that he had canceled "the previously expected second Wave of Attacks, which looks like it will not be needed" on Venezuela because of the country's cooperation after he captured President Nicolás Maduro.
"The U.S.A. and Venezuela are working well together, especially as it pertains to rebuilding, in a much bigger, better, and more modern form, their oil and gas infrastructure," Trump said in an early morning post on Truth Social.
The president added that "all ships will stay in place for safety and security purposes," referring to the U.S. blockade of oil to and from the Latin American country.
