Interim Venezuelan authorities to hand over 30–50 million barrels of sanctioned oil to US: Donald Trump

US President Donald Trump on Tuesday announced that interim authorities in Venezuela would turn over between 30 and 50 million barrels of “high-quality, sanctioned oil” to the United States, saying the proceeds from its sale would be controlled by him to ensure the funds benefit both Venezuela and the US.

In a post on Truth Social, Trump said the oil would be sold at market price and transported directly to the US using storage ships.

“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. This oil will be sold at its market price, and that money will be controlled by me, as President of the United States, to ensure it is used to benefit the people of Venezuela and the United States,” Trump said.

He added that he had directed Energy Secretary Chris Wright to execute the plan immediately and that the oil would be shipped directly to US unloading docks.

The announcement comes days after Washington carried out what it described as a “large-scale strike” against Venezuela, following which Venezuelan leader Nicolás Maduro and his wife Cilia Flores were captured and flown out of the country.

Speaking at a press conference in Florida shortly after Maduro’s capture, Trump said US oil companies would invest billions of dollars to repair Venezuela’s “badly broken” oil infrastructure and revive production.

“We’re in the oil business. We’re going to sell it to other countries. Venezuela couldn’t produce much because their infrastructure was so bad. That will be fixed,” Trump said, adding that increased oil sales would generate revenue for Venezuela.

Trump described Venezuela’s oil sector as a “total bust” under Maduro, blaming years of mismanagement and underinvestment for sharply reduced output despite the country holding the world’s largest proven oil reserves.

Maduro and Flores were captured in Caracas in a joint operation involving US intelligence agencies and law enforcement and later flown to the United States. Trump said both have been indicted in the Southern District of New York on charges related to alleged drug trafficking and narco-terrorism conspiracies and will face trial.

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