Trump Announces Venezuela Agrees to Send Millions of Barrels of Oil to America
- President Donald Trump has announced that Venezuela’s interim authorities agreed to transfer between 30 million and 50 million barrels of oil to the United States
- Trump had directed Energy Secretary Chris Wright to immediately begin logistics for transporting the oil to US unloading docks
- The US president had said proceeds from the oil sales would be managed by his administration for the benefit of both Venezuela and the United States
US President Donald Trump said Venezuela’s interim authorities have agreed to transfer a large volume of crude oil to the United States following recent political upheaval in Caracas.
The agreement calls for between 30 million and 50 million barrels of sanctioned Venezuelan oil to be brought to US ports and sold on international markets.
Source: Getty Images
Trump said the proceeds from those sales would be directed toward projects benefiting citizens of both countries, Reuters reported.
Under the plan outlined by Trump in a post on his Truth Social platform, the oil will be moved by storage ships and unloaded at American docks.
He has directed Energy Secretary Chris Wright to begin implementation without delay. Trump said proceeds from the sales “will be controlled by me, as President of the United States of America” to ensure they are used for shared benefit. Anadolu Ajansı
Venezuela agrees to oil transfer
The announcement marks a striking development in US–Venezuela relations, coming days after US forces conducted a military operation in Caracas that resulted in the removal of Venezuelan leader Nicolás Maduro from power.
Venezuela’s interim leadership has not released a detailed statement of its own on the arrangement, but Trump portrayed the transfer as a cooperative step toward stabilising the region’s energy situation, reported Economic Times
Trump described the oil as “high quality” and said the barrels would be sold at market price. He wrote that this approach will benefit both the Venezuelan people and Americans.
It remains unclear how quickly the oil will reach US refineries or what effect the move might have on global oil markets.
Source: Getty Images
The transfer stands out because Trump specifically claimed presidential control over the sale revenue. He said the funds will be used to “benefit the people of Venezuela and the United States.”
Venezuela’s Maduro pleads not guilty
Earlier, Legit.ng reported that Nicolás Maduro made a dramatic first appearance in a Manhattan courtroom on Monday, January 5, to confront charges of drug trafficking and weapons offences while insisting he remains Venezuela’s legitimate president.
He appeared in handcuffs, accompanied by his wife, Cilia Flores, and surrounded by heavily armed federal agents, drawing a packed crowd of journalists and members of the public.
The hearing lasted 40 minutes, according to the BBC, during which both Maduro and Flores pleaded not guilty. “I’m innocent. I’m a decent man,” Maduro declared. Flores, visibly injured from their weekend arrest, added that she was “completely innocent.”
Source: Legit.ng
