President Donald Trump has announced that Venezuela will transfer between 30 million and 50 million barrels of oil to the United States following a U.S. military operation that removed Nicolás Maduro from power.
Trump, posting on Truth Social, said the oil—classified as “sanctioned”—will be sold at market value, with the proceeds controlled by the United States. “The money will be used to benefit the people of Venezuela and the United States,” he wrote.
Energy Secretary Chris Wright has been instructed to “execute this plan immediately,” with the oil transported by storage ships directly to U.S. unloading docks.
“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 stated. “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 benefits the people of Venezuela and the United States!”
The announcement follows Delcy Rodríguez, formerly Venezuela’s vice president, being sworn in as the country’s interim president. Nicolás Maduro has been brought to the U.S. to face charges related to drug trafficking and weapons violations.
Speaking to NBC News on Monday, Trump highlighted the economic rationale behind the move: “Having a Venezuela that’s an oil producer is good for the United States because it keeps the price of oil down.”
