OREANDA-NEWS  The British oil and gas company Shell is ready to start investing in the Venezuelan oil industry, the company told RIA Novosti.

US President Donald Trump had previously warned American oil companies that at least $100 billion would have to be invested in Venezuela. Trump stressed that the United States is ready to process and sell oil from Venezuela. According to the US president, heavy oil from a Latin American country is suitable for road construction.

"We are ready to start and look forward to investing (in Venezuela - ed.)," the concern told the agency.

The company stressed that Shell now has investment opportunities worth several billion dollars, which must be approved by the Office of Foreign Assets Control (OFAC) of the US Treasury.

Shell withdrew from Venezuela in 1975-1976, when the country's authorities nationalized its oil industry.