U.S. President Donald Trump announced that interim authorities in Venezuela will transfer between30 million and 50 million barrels of sanctioned crude oilto the United States, with the oil to be sold at prevailing market prices. Trump said theproceeds from the sale will be under his control as presidentand will be used in ways intended to benefit both Venezuelans and Americans.
According to Trump’s announcement on his social media platform, the arrangement comes amid evolving geopolitical dynamics following recent U.S. actions in Venezuela, and he has directed Energy Secretary Chris Wright to implement the plan immediately. The oil is expected to be transported by storage ships and unloaded directly at U.S. ports.
The move marks a significant development in U.S.–Venezuela relations, as it involves sanctioned oil reserves once largely barred from export due to longstanding sanctions. Trump’s statement also signals a broader U.S. strategy to leverage Venezuelan energy resources, even as global markets react to the news.
President Donald Trump has said on his social media site that “Interim Authorities” in Venezuela would be providing 30 million to 50 million barrels of “High Quality” oil to the U.S. at its market price.
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