“I am pleased to announce that the Venezuelan Interim Authority will transfer between 30 and 50 MILLION barrels of high-quality, sanctioned crude oil to the United States,” Trump wrote in a post on Truth Social.
“This oil will be sold at the market price, and I, as president of the United States of America, will exercise control over this money to ensure it is used for the benefit of the people of Venezuela and the United States,” he added.
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How many barrels of oil does Venezuela donate?
How much control over oil money has Trump declared?
What does Trump plan to do with the donated oil?
What is the estimated value of Venezuelan oil?
Oil worth billions
Trump said he had instructed the Minister of Energy to immediately implement this plan and transport the oil by ship directly to US ports.
Venezuelan authorities have not yet commented on Trump's announcement. According to the New York Times estimates, the amount of oil Trump is talking about is equivalent to two months of oil production in Venezuela, and the market value of the raw material is approximately USD 1.8-3 billion.
Trump has already announced that the naval blockade of tankers sailing to and from Venezuela, which began in December, will continue. Despite its validity, the authorities in Caracas tried to sell the raw material; so far, the US has detained two ships, each of which could have carried up to almost 4 million barrels.
