U.S. President Donald Trump announced that Venezuela’s interim authorities will transfer between 30 million and 50 million barrels of oil to the United States following the recent military removal of President Nicolás Maduro.
Trump shared the details on Truth Social, saying that the oil described as “sanctioned oil” will be sold at market value and the proceeds will be under U.S. control.
In his post, 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 of America, to ensure it is used to benefit the people of Venezuela and the United States!”
The announcement came a day after Delcy Rodríguez, formerly Venezuela’s vice-president, was sworn in as interim president. Meanwhile, Maduro was taken to the U.S. to face drug-trafficking and weapons charges.
Trump also said he had directed Energy Secretary Chris Wright to implement the plan immediately. “It will be taken by storage ships, and brought directly to unloading docks in the United States,” he wrote.
The expected oil transfer follows a controversial U.S. military operation that ousted Maduro, which some critics have labelled aggressive, while supporters argue it strengthens U.S. strategic energy interests. Venezuelan authorities have condemned the actions as violations of international law.
U.S. officials have previously expanded travel bans and tightened immigration and export rules on Venezuela. Moreover, there are signs that U.S. companies may play a role in future Venezuelan oil production and infrastructure projects.
Trump later told NBC News that having a Venezuela that produces oil again is “good for the United States because it keeps the price of oil down.”
