Indicating that the Venezuelan government is complying with Washington’s demands after the ouster of Nicolas Maduro, President Donald Trump said the energy-rich country will ship up to 50 million barrels of oil to the United States.
Trump said he would control the proceeds from the trade and demanded that interim President Delcy Rodriguez allow US and private companies “total access” to Venezuela’s oil.
“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 wrote in a post on his Truth Social platform.
“This oil will be sold at its market price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States.”
Trump said he has directed Energy Secretary Chris Wright to “execute this plan immediately.” He added that the oil would be transported by storage ships and delivered directly to unloading docks in the United States.
Venezuelan oil exports are currently subject to a U.S.-enforced blockade that has been in place since December.
The announcement comes as Venezuela faces a dramatic turning point after U.S. forces captured Maduro in a large-scale operation and transported him to New York, where he faces narco-terrorism charges.
Venezuela holds the world’s largest proven oil reserves, which Trump said remain largely untapped. He added that partnerships with U.S. companies would allow the country to trade its oil while benefiting its economy.
In recent years, China has been Venezuela’s largest oil buyer, as U.S. sanctions imposed since 2020 have restricted companies from trading Venezuelan crude.
U.S. Interior Secretary Doug Burgum described the prospect of importing Venezuelan oil as “great news,” saying it could strengthen job security and help stabilize gasoline prices.
“Venezuela has an opportunity now to bring in capital and rebuild its economy,” Burgum said during a Fox News appearance. “With American technology and American partnership, Venezuela can be transformed.”
Ali Imran is a Washington-based journalist, who has worked for leading world news organizations as correspondent, expert and in editorial positions. He is a published author and poet.
