Interim Venezuela government will turn over 50m barrels of oil to US, says Trump
United States President Donald Trump has announced that Venezuela will hand over between 30 million and 50 million barrels of oil to the United States under a new arrangement he says will benefit both countries.
In a statement posted on Truth Social on Tuesday, Trump said the oil would be sold at market prices, adding that he would oversee the proceeds to ensure the funds are used in the interest of the Venezuelan and American people.
He said he has directed Energy Secretary Chris Wright to implement the plan immediately.
“I am pleased to announce that the Interim Authorities in Venezuela will be turning over between 30 and 50 million barrels of high-quality, sanctioned oil to the United States of America,” Trump wrote.
“This oil will be sold at its market price, and that money will be controlled by me, as president of the United States, to ensure it is used to benefit the people of Venezuela and the United States.”
Trump added that the oil would be transported using storage ships and delivered directly to unloading docks in the United States.
The announcement comes days after Trump declared that the United States would assume control over Venezuela’s affairs until a political transition is completed.
On January 3, U.S. authorities captured Venezuelan President Nicolás Maduro and transported him to New York, where he is facing charges related to narco-terrorism.
Trump also claimed that the United States has significantly reduced drug trafficking by sea, alleging that a large portion of illicit drugs entering the country originated from Venezuela.
