Washington / Caracas — US President Donald Trump has revealed that Venezuela will hand over between 30 and 50 million barrels of oil to the United States — a move he says will benefit both Americans and Venezuelans.
Trump made the announcement on his social media platform Truth Social on Tuesday, insisting the crude — previously under US sanctions — would be sold at market prices, with all proceeds controlled directly by his administration.
“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 wrote.
Trump directed US Energy Secretary Chris Wright to implement the plan immediately, adding that the oil would be shipped by storage vessels directly to unloading docks in the US.
The announcement follows a controversial US military operation in Venezuela, which led to the capture of President Nicolás Maduro and intensified tensions over US involvement in Venezuelan affairs. Pro‑Trump officials have framed the oil transfer as part of a strategy to secure energy resources while weakening Maduro’s government.
Critics, however, warn the move raises serious legal and geopolitical questions, with concerns about the United States exerting control over another country’s oil reserves — the world’s largest proven reserves — and the potential backlash from the international community.
Trump did not provide details on how the revenue from the oil sales will be used or the timeline for delivery, leaving analysts speculating on the implications for global oil markets.
Venezuela’s oil industry, historically a key supplier to China and other countries, is at the centre of growing geopolitical tension. The move comes as Washington seeks to strengthen its influence over Caracas amid ongoing legal cases against Maduro in the United States.
The story is developing.
David Okoroafor - Geopolitics & Foreign Affairs Editor ✔
David Okafor Geopolitical Editor / Foreign Affairs Editor, Naija247news Media Group David Okafor serves as the Foreign Affairs Editor at Naija247news Media Group, bringing over five years of experience in international journalism. Renowned for his investigative reporting and editorial leadership, he provides readers with in-depth analysis of global politics, economic trends, and major international events. A graduate in International Relations, David has a proven track record of delivering accurate, insightful, and impactful coverage, ensuring that Naija247news remains a trusted source for world affairs. His work has earned him respect across the media industry for clarity, integrity, and commitment to excellence.
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