President Donald Trump has announced a landmark oil arrangement under which Venezuela’s interim leadership will supply the United States with as much as 50 million barrels of crude oil.
Trump made the disclosure on his Truth Social account, stating that Caracas had agreed to transfer between 30 and 50 million barrels of premium crude currently restricted by U.S. sanctions.
The consignment, he said, would be sold at international market value.
According to him, the proceeds will be held under the supervision of his administration and channelled into initiatives he claims will benefit both nations.
He noted that U.S. Energy Secretary Chris Wright has been directed to commence implementation immediately, including ensuring the crude is lifted from storage facilities and shipped to American ports without delay.
The development comes in the wake of a dramatic U.S. operation in Venezuela that resulted in the capture of embattled President Nicolás Maduro, who was subsequently flown to the United States to face criminal charges.
Following Maduro’s arrest, Vice President Delcy Rodríguez assumed the position of interim president, creating the opening for fresh engagements between Washington and Caracas.