President Trump announced Tuesday that Venezuela will sell up to 50 million barrels of oil to the US at “market price” — and that he will control what the South American nation can do with the proceeds from the sale.
“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,” Trump posted on Truth Social.
“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!” he continued.
“I have asked Energy Secretary Chris Wright to execute this plan, immediately.”
Trump said the oil will be “brought directly” to the US docks via storage ships.
Following the Jan. 3 military operation to depose and capture dictator Nicolas Maduro, the president has said he hopes to see more US oil companies enter Venezuela and expand production in the oil-rich nation.
This is a developing story. Please check back for updates.
