President Donald Trump announced late Tuesday that interim leaders in Venezuela have agreed to transfer between 30 million and 50 million barrels of sanctioned crude oil to the United States, a move tied directly to the recent U.S.-led operation that removed former Venezuelan President Nicolás Maduro from power.
In a post on Truth Social, Trump described the oil as high-quality crude that had accumulated under sanctions and said it would be sold at prevailing market prices, with proceeds earmarked for use in both countries.
“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!” Trump wrote.
Trump said he had instructed Energy Secretary Chris Wright to move quickly to implement the arrangement, adding that the oil “will be taken by storage ships, and brought directly to unloading docks in the United States.”
The announcement comes as Washington continues to manage the political and legal fallout from Maduro’s capture by U.S. forces and his transfer to the United States to face charges, CNBC writes. According to administration officials, the oil involved includes stockpiles that built up on land and aboard tankers during years of export restrictions.
Energy analysts described the volume as significant but limited in global terms—roughly equivalent to two to three days of total U.S. oil consumption. Markets reacted modestly to the news, with U.S. crude prices dipping by about $1 per barrel to near $56.
At current prices of roughly $55 to $56 per barrel for Venezuelan heavy crude, the transfer could generate an estimated $1.65 billion to $2.8 billion in revenue, depending on the final volume and terms of sale.
A U.S. administration source said much of the oil is already extracted and loaded, primarily aboard tankers, and is expected to be delivered to Gulf Coast refineries capable of processing heavy crude grades.
The move also fits within broader U.S. efforts to draw American energy companies back into Venezuela, which holds the world’s largest proven oil reserves but suffers from degraded infrastructure after years of mismanagement and sanctions. Discussions are underway with major oil firms about potential investments aimed at reviving the country’s energy sector.
