In a major geopolitical and energy development, President Donald Trump announced Tuesday that interim authorities in Venezuela will transfer between 30 million and 50 million barrels of “high-quality, sanctioned” crude oil to the United States, with the crude to be sold at market prices and proceeds controlled by his administration.
Trump made the announcement in a post on his social media platform, saying he has directed Energy Secretary Chris Wright to implement the plan immediately. According to the president, the oil will be transported by storage ships directly to U.S. unloading docks, where it will be sold at prevailing market rates.
“This oil will be sold at its market price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States,” Trump wrote.
The announcement follows a dramatic shift in Venezuela’s political landscape after U.S. forces captured former Venezuelan President Nicolás Maduro earlier this week, significantly reshaping Washington’s engagement with Caracas.
In addition to the oil transfer plan, Trump’s administration is organizing an Oval Office meeting with executives from major U.S. oil companies, including ExxonMobil, Chevron and ConocoPhillips, to discuss Venezuela’s energy sector and potential future cooperation.
Venezuela holds some of the world’s largest crude oil reserves, but years of underinvestment, sanctions and declining production have limited output. Analysts say the logistics of ramping up Venezuelan oil exports remain complex, even as U.S. policy shifts open the door to expanded involvement by American energy firms.
The move has triggered mixed reactions globally, as markets and governments assess the implications for energy supplies, geopolitical relations and long-term stability in the Western Hemisphere.
(This story is published from a syndicated feed)
