President Trump made an announcement on Tuesday that Venezuela has agreed to sell up to 50 million barrels of oil to the United States at market price. He also stated that he will be overseeing how the proceeds from the oil sale will be used, ensuring that it benefits both the people of Venezuela and the United States.
The President shared this news on his Truth Social platform, specifying that the Interim Authorities in Venezuela will be transferring between 30 and 50 million barrels of high-quality, sanctioned oil to the US. Trump emphasized that the oil will be sold at its market price and that he, as the President of the United States, will be in charge of ensuring that the money is utilized for the benefit of both nations.
Energy Secretary Chris Wright has been tasked with executing this plan promptly, with the oil set to be transported directly to US docks via storage ships. Trump expressed his desire to see more US oil companies enter Venezuela and increase production following the recent military operation to remove dictator Nicolas Maduro from power.
The South American nation is expected to turn over the agreed-upon barrels of oil to the United States, marking a significant development in their relationship. This story is still developing, so stay tuned for further updates.
