President Donald Trump made a bold declaration on Tuesday that Venezuela’s interim authorities will hand over up to 50 million barrels of high-quality oil to the United States.
According to Trump’s Truth Social post, the crude will be sold at market prices, with proceeds controlled directly by the president to benefit both nations.
“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,” he said. “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!”
Trump said he directed Energy Secretary Chris Wright to execute the plan, “immediately.”
“It will be taken by storage ships, and brought directly to unloading docks in the United States,” he concluded.
In 2022, U.S. total petroleum consumption averaged about 20 million barrels per day.
The proclamation comes after Trump’s attack on Venezuela and the ousting of strongman Nicolás Maduro.
The Trump administration has called the invasion of Venezuela and capture of Maduro a law enforcement operation carried out with the support of the U.S. military, and has announced that the U.S. has plans to control the South American country by way of its new vice president, who will be more friendly to oil production and American oil companies.
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