Trump Asserts Control Over Venezuelan Oil Deal With US
President Donald Trump announces interim Venezuelan authorities to transfer 30–50 million barrels of sanctioned oil to the United States, to be sold at market prices with funds managed by the U.S. presidency.
Washington, Jan 7: U.S. President Donald Trump on Tuesday said interim authorities in Venezuela will transfer between 30 million and 50 million barrels of high quality, sanctioned crude oil to the United States, describing the move as beneficial for people in both nations.
The Economic Times
In a post on his social media platform Truth Social, Trump said the oil will be sold at market price, and proceeds from the sale “will be controlled by me, as President of the United States of America” to ensure the funds are used for the benefit of Venezuelans and Americans. He added that he has instructed Energy Secretary Chris Wright to begin implementation immediately, with storage vessels transporting the crude directly to U.S. unloading docks.
The Economic Times
Trump framed the arrangement as both an economic and strategic gain for the U.S., coming in the aftermath of a dramatic geopolitical shift in Venezuela. His announcement follows recent U.S. military operations that resulted in the capture of Venezuelan President Nicolás Maduro and have significantly altered Caracas-Washington relations.
Analysts say the oil transfer could influence global crude routes and energy markets, especially given Venezuela’s historically large but under utilised oil reserves and the potential for the United States to redirect supplies from other buyers, including China.
