President Donald Trump has announced that interim authorities in Venezuela will transfer between 30 million and 50 million barrels of oil to the United States, a move he says will benefit both Venezuelans and Americans.
Trump’s announcement, made via his Truth Social platform, came as tensions remain high in Venezuela following the recent capture of President Nicolás Maduro by US forces. According to the US president, the oil will be sold at prevailing market prices and the proceeds will be managed under the control of his administration to ensure the funds “benefit the people of Venezuela and the United States.”
In the post, Trump said he had directed Energy Secretary Chris Wright to execute the plan immediately. He added that the oil would be transported by storage ships and delivered directly to unloading docks in the United States.
The announcement follows weeks of strategic manoeuvring over Venezuela’s vast oil reserves, long considered crucial both for the country’s economy and global energy markets. Observers have noted that the volume Trump cited — 30 to 50 million barrels — represents a significant transfer of sanctioned crude to the US, though discussions continue about how the proceeds will be used and the legal implications of the agreement.
US officials have said the funds generated from the oil sales would be deployed to support infrastructure and economic relief efforts, although detailed plans on implementation have not been fully outlined by the White House. Representative oil industry executives from major American companies are also scheduled to meet with Energy Department officials to discuss potential investment and rebuilding of Venezuela’s ageing oil infrastructure.
The decision has already influenced global oil markets, with benchmark prices experiencing volatility following the announcement. Analysts say the move could shift some traditional oil flows, particularly those previously destined for buyers such as China, though the full economic impact remains uncertain.
As this story continues to develop, international reaction and legal perspectives are expected to shape the broader implications of the oil transfer and its role in US–Venezuela relations.