Former President Donald Trump announced that interim authorities in Venezuela have agreed to transfer a large volume of sanctioned oil to the United States, describing the move as immediate and significant for both countries.
Trump said between 30 million and 50 million barrels of oil will be handed over and transported directly to U.S. ports using storage vessels. He stated that the oil will be sold at market value and that the proceeds will be overseen by the U.S. government, with the goal of benefiting both the American economy and the Venezuelan people.
According to Trump, the plan follows recent military action that resulted in the capture of Venezuelan leader Nicolás Maduro and his wife, who were brought to the United States to face criminal charges. Trump said the U.S. will temporarily oversee operations in Venezuela while a political transition is arranged, warning that further military action remains an option if stability is threatened.
The former president said Energy Secretary Chris Wright has been instructed to carry out the oil transfer without delay. He also confirmed that major U.S. energy companies are expected to meet with him at the White House to discuss potential investments to restore Venezuela’s oil production capacity.
Trump argued that Venezuela’s oil infrastructure has been severely damaged by years of mismanagement and corruption, and said American companies would be positioned to invest billions of dollars to rebuild facilities and resume large-scale production.
Venezuela holds one of the largest oil reserves in the world, but production has declined sharply over the past two decades. Trump said his administration’s approach differs from past foreign interventions, emphasizing that control over energy resources will play a central role in future policy decisions.
U.S. oil companies have not yet publicly confirmed whether they will proceed with investments, and further details on the timeline and distribution of proceeds have not been released.
