Wasington: U.S. President Donald Trump has announced a major energy move involving Venezuela, stating that the country’s interim authorities will hand over between 30 million and 50 million barrels of high-quality oil to the United States. The announcement comes amid heightened geopolitical tensions following the capture of Venezuelan President Nicolás Maduro by U.S. forces.
Posting on his social media platform Truth Social, Trump said the oil — currently under international sanctions — would be sold at market rates, with the proceeds managed under U.S. oversight. “This money will be controlled by me as President to ensure it benefits both the people of Venezuela and the United States,” Trump declared.
According to estimates, the oil transfer could be worth $1.6 billion to $2.7 billion, based on current crude prices. Shortly after the announcement, U.S. crude oil prices slipped by about one dollar per barrel, reflecting expectations of additional supply entering the market.
Trump directed Energy Secretary Chris Wright to immediately implement the plan, stating that the oil would be transported via storage ships and unloaded directly at U.S. ports. He also indicated that American energy companies could invest heavily in repairing Venezuela’s damaged oil infrastructure in the coming months.
The announcement follows a dramatic U.S. military operation in which Nicolás Maduro and his wife, Cilia Flores, were detained and flown to New York to face long-standing drug trafficking and corruption charges. U.S. authorities have accused Maduro of running a narco-terror network that funnelled cocaine into American markets.
In remarks after the operation, Trump said Venezuela’s oil sector had been “destroyed by corruption” and promised that U.S. involvement would revive production while generating revenue for the Venezuelan people. However, critics have questioned the legality and morality of linking military action with control over a country’s natural resources.
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