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President Donald Trump said Tuesday that Venezuela’s interim authorities will transfer between 30 million and 50 million barrels of oil to the United States, with the resulting revenue benefiting both Venezuelans and Americans.
The president made the announcement in a post on Truth Social just days after authorizing a U.S. military operation that ousted socialist strongman Nicolás Maduro and brought him to the United States to face federal charges.
“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,” President Trump wrote.
“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!” he added.
President Trump said he asked Energy Secretary Chris Wright to carry out the plan “immediately,” with the oil taken by storage ships and brought directly to unloading docks in the United States.
Delcy Rodríguez, who was sworn in as Venezuela’s interim president after Maduro’s removal, has indicated she would cooperate with Washington as the new leadership seeks stability, though concerns about Venezuelan sovereignty remain unresolved.
Before the U.S. operation, Venezuela’s oil industry had struggled to recover from years of socialist mismanagement, extensive sanctions, and declining production that dropped output well below its capacity despite the nation’s vast reserves.
Economists said Tuesday that reintegrating Venezuelan oil into global markets is likely to be gradual and that the immediate impact on the broader U.S. economy may be limited, even as the announcement signals a significant shift in U.S.-Venezuela relations.
In a separate report, analysts said the deal could redirect oil shipments previously bound for China and reduce pressure on Venezuela’s strained oil sector, potentially valuing the transferred crude at roughly $2 billion at current market prices.
As part of broader negotiations with Venezuela’s new leadership, U.S. officials are planning meetings with major American oil companies to discuss boosting production and reestablishing commercial ties disrupted by years of sanctions and economic decline.
