US President Donald Trump’s foreign policy moves targeting Venezuela’s oil, Greenland’s critical minerals and the Panama Canal reflect Washington’s broader strategy to expand its influence over strategic resources and trade routes.
The Trump administration has employed a range of tools, including economic pressure, tariff threats and military intervention, to strengthen access to energy resources and secure advantages in strategic supply chains.
The approach, initially reflected in Trump’s remarks on the Panama Canal and Greenland before taking office, continued with policies aimed at boosting domestic energy production and securing access to critical minerals.
Upon taking office on Jan. 20, 2025, Trump reiterated his “drill, baby, drill” slogan and declared a “national energy emergency,” directing federal agencies to accelerate permitting for energy and critical mineral projects.
His administration also established the National Energy Dominance Council to boost energy production and exports, strengthen critical mineral supplies and coordinate efforts across federal agencies.
The administration’s view of energy dominance as a pillar of national security and international influence has extended beyond domestic production to securing access to strategic resources and trade routes worldwide.
– US-China rivalry over Panama Canal
Before taking office, Trump called for the Panama Canal, a vital waterway connecting the Atlantic and Pacific oceans, to return to US control, citing high transit fees and China’s growing influence in the region.
Panamanian President Jose Raul Mulino rejected the demand, insisting that the canal belongs to Panama and would remain under its control.
Meanwhile, Panama’s Supreme Court ruled in January that contracts granting Panama Ports Company, a subsidiary of Hong Kong-based CK Hutchison, the right to operate ports at both ends of the canal were unconstitutional.
The developments surrounding the ports, which the company had operated since 1997, highlighted the extent of strategic competition in the region, even as sovereignty over the canal remained with Panama.
– Greenland’s mineral wealth draw US interest
Greenland’s strategic location in the Arctic and its rich deposits of critical minerals have made it a key focus of Trump’s efforts to expand US influence.
Trump has repeatedly argued that the autonomous Danish territory should come under US control, citing national security concerns and growing Russian and Chinese activities in the Arctic.
Although Greenland’s Prime Minister Jens-Frederik Nielsen rejected Trump’s demand, the US signed an agreement with Denmark and Greenland in September to expand its military presence in the territory.
The agreement also included restrictions on certain foreign investments deemed to pose security risks in strategic sectors, highlighting the military and economic dimensions of Washington’s efforts to strengthen its position in the Arctic.
Trump’s announcement in October that extensive oil, natural gas and mineral exploration activities were set to begin in Greenland further highlighted the administration’s continued interest in gaining access to the territory’s resources.
– Military intervention in Venezuela
One of the Trump administration’s most direct moves to expand its influence over energy resources came in Venezuela, home to the world’s largest proven oil reserves.
Relations between Washington and Caracas, long strained by US oil sanctions, escalated into military intervention during Trump’s second term.
US forces captured Venezuelan President Nicolas Maduro and his wife, Cilia Flores, during an operation in Venezuela on Jan. 3 and transferred them to the US.
Following the operation, Trump said American companies would play a major role in restructuring Venezuela’s oil industry and that Washington would increase its oversight of the country’s oil resources.
With approximately 303 billion barrels of proven oil reserves, accounting for roughly one-fifth of the global total, Venezuela holds strategic importance for Washington not only in diversifying energy supplies but also in establishing long-term economic and geopolitical influence.
While Trump’s demands for sovereignty over the Panama Canal and Greenland have not materialized, the use of military force in Venezuela illustrates the administration’s reliance on different foreign policy tools to expand its influence over strategic resources.
– Resource control policy ‘reminiscent of historical imperialism’
The US is pursuing an overt policy of securing control over strategic resources, Richard Bronze, head of geopolitics at Energy Aspects, told Anadolu.
Bronze said Washington’s strategy to expand its influence across the Western Hemisphere has been described as the “Trump Corollary” to the Monroe Doctrine, or more informally, the “Donroe Doctrine.”
Referring to Trump’s statements on Venezuelan oil and Greenland’s critical minerals, Bronze said, “This overt pursuit of resources has echoes of historic imperialism and carries several significant risks.”
He warned that Trump’s insistence on securing financial benefits for the US from Venezuela’s oil production could undermine the legitimacy of any Venezuelan government supporting such arrangements.
The approach could also strengthen political movements advocating national sovereignty over natural resources, potentially leading to the reversal of agreements and greater instability, he added.
Bronze said the Trump administration’s policies outside the Americas have been more transactional and less consistent, while the current energy price crisis has exposed the limits of Washington’s energy dominance strategy.
He also noted that Trump’s focus on short-term economic deals has frequently shaped US foreign policy.
“President Trump’s love of economic deals frequently influences his foreign policy, such as the negotiations over Ukrainian mineral rights in 2025 or the Russian diesel supply deal he announced this month, but these often distract from or even undermine the longer-term strategic goals for the US and its traditional allies,” Bronze concluded.