Trump says Venezuela to deliver up to 50M barrels of oil to US

US President Donald Trump said Venezuela will deliver up to 50 million barrels of oil to the United States, at an estimated value of around $2.8 billion based on current market prices.

The proceeds from the sale of these shipments will benefit both countries, Trump added in a post on Truth Social.

“I am pleased to announce that the interim authorities in Venezuela will deliver between 30-50 million barrels of high-quality oil, subject to sanctions, to the United States.”

“This oil will be sold at market prices, and I will personally oversee these funds, in my capacity as President of the United States, to ensure they are used in a manner that benefits the people of Venezuela and the US.”

This comes as the US government seeks to expand its economic influence in Venezuela and beyond, following the arrest of President Nicolás Maduro over the weekend, and is seen as a blow to China, which had previously been the largest importer of Venezuelan oil.