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President Donald Trump said Wednesday that Venezuela will use revenue from a new oil arrangement with the United States to purchase only American-made goods, strengthening economic ties between the two nations following recent political upheaval.
The president shared the announcement on Truth Social shortly after Energy Secretary Chris Wright revealed that the United States will handle the sale of Venezuelan oil both domestically and internationally under the agreement.
“I have just been informed that Venezuela is going to be purchasing ONLY American Made Products, with the money they receive from our new Oil Deal. These purchases will include, among other things, American Agricultural Products, and American Made Medicines, Medical Devices, and Equipment to improve Venezuela’s Electric Grid and Energy Facilities,” President Trump wrote.
“In other words, Venezuela is committing to doing business with the United States of America as their principal partner – A wise choice, and a very good thing for the people of Venezuela, and the United States. Thank you for your attention to this matter!” he continued.
In a separate Truth Social post earlier this week, Trump said Venezuela is expected to deliver 30 million to 50 million barrels of “high quality” oil to the U.S., which will be sold at market prices and the proceeds controlled under presidential oversight to benefit both Venezuelans and Americans.
“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.
Officials have indicated proceeds from the oil sales will initially be held in U.S.-controlled bank accounts, designed to ensure transparent use before being disbursed.
