U.S. President Donald Trump has announced that interim authorities in Venezuela will transfer between 30 million and 50 million barrels of sanctioned oil to the United States for sale at market prices.
Trump said the move comes after a major U.S. military operation in Venezuela that resulted in the capture of President Nicolás Maduro and his wife.
He posted on social media that the oil will be sold at market price and that the proceeds will be controlled by him as president to ensure the funds benefit both Venezuelans and Americans.
Trump directed Energy Secretary Chris Wright to execute the plan immediately. The oil is to be transported by storage ships and unloaded directly at U.S. ports.
The announcement has sparked debate globally, with some analysts noting the strategic value of Venezuelan crude even as the country’s production remains far below past levels.
The broader geopolitical and legal implications of the arrangement continue to unfold in the wake of Maduro’s arrest and changing leadership in Caracas.
