President Donald Trump announced on Tuesday that Venezuela's interim government has agreed to transfer 30 to 50 million barrels of high-quality, previously sanctioned crude oil directly to the United States.
The move, described by Trump as potentially one of the largest single oil handovers from a foreign nation in modern history, comes amid ongoing tensions following a recent U.S. military operation in Caracas.
In a post on Truth Social, Trump stated:"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 of America, to ensure it is used to benefit the people of Venezuela and the United States! I have asked Energy Secretary Chris Wright to execute this plan, immediately.
"It will be taken by storage ships, and brought directly to unloading docks in the United States. Thank you for your attention to this matter!"Valued at approximately $1.65 billion to $2.75 billion based on current prices for Venezuela's heavy Merey crude (around $55–$56 per barrel), the oil is expected to be transported via very large crude carriers (VLCCs) and other vessels to U.S. Gulf Coast facilities.
The announcement follows a January 3 U.S. military operation that led to the capture of former President Nicolás Maduro and his wife, Cilia Flores.
Maduro was subsequently transported to New York, where he faces drug trafficking and corruption charges. On January 5, Vice President Delcy Rodríguez was sworn in as Venezuela's interim president.Oil markets reacted with a modest decline, as U.S. West Texas Intermediate futures dropped 1.5–2% in after-hours trading due to the added supply in a saturated global market.
The volume represents roughly 10–17 days of Venezuela's historical pre-sanctions production levels, though the country's current output remains limited.
The Trump administration has positioned the agreement as mutually beneficial, aiming to ease U.S. energy costs while channeling proceeds toward humanitarian aid and reconstruction in Venezuela, with Trump personally overseeing the funds' distribution.
While interim authorities in Caracas have not yet publicly confirmed the details, Rodríguez has indicated openness to energy cooperation in return for easing U.S. sanctions.
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