CoinWorld News reports that U.S. Secretary of State Mike Pompeo outlined the three-phase process the United States plans to implement in Venezuela. Pompeo stated, “The first step is to stabilize the national situation. We do not want it to descend into chaos,” and added that stabilizing the situation includes “isolating” Venezuela's oil. Pompeo said, “The second phase we will call the recovery phase. This means ensuring that U.S., Western, and other companies can access the Venezuelan market fairly.” He also mentioned that the second phase involves reconciliation with the Venezuelan government to ensure that “opposition forces can gain amnesty and be released.” “The third phase is the transition phase,” Pompeo told reporters, “We feel we will move forward in a very positive way.”