President Donald Trump has announced that interim authorities in Venezuela will transfer between 30 and 50 million barrels of oil to the United States, a move he says is intended to benefit both Venezuelans and Americans.
The announcement was made on Tuesday via Trump’s social media platform, Truth Social, where he described the oil as “high-quality, sanctioned oil” that will be sold at market prices. He stated that the proceeds from the sales would be overseen by him in his role as President to ensure the funds are used in the interest of both countries.
“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 wrote. “This oil will be sold at its market price, and the money will be controlled to ensure it benefits the people of Venezuela and the United States.”
Trump further revealed that he has instructed Energy Secretary Chris Wright to begin implementing the plan immediately. According to the directive, the oil will be loaded onto storage vessels and transported directly to unloading docks in the United States for processing and sale.
The announcement comes amid heightened tensions in U.S.–Venezuela relations, following recent political and military developments that led to the removal of Venezuelan leader Nicolás Maduro from power. The developments have sparked intense international debate, with supporters viewing the move as a strategic realignment and critics questioning its legality and implications for Venezuelan sovereignty.
While Venezuela possesses some of the largest proven oil reserves in the world, years of sanctions, underinvestment and operational challenges have significantly reduced its production capacity. Analysts note that although 30 to 50 million barrels is modest relative to global supply levels, the volume is symbolically significant and could have short-term effects on energy markets.
The oil transfer, estimated to be worth approximately $2.8 billion, has also reignited broader discussions about the future of Venezuela’s energy sector, U.S. foreign policy in Latin America, and the role of natural resources in geopolitical negotiations.
Critics have raised concerns over the legitimacy of the interim authorities authorising the transfer and the potential precedent such an arrangement could set. Others argue the deal reflects a pragmatic approach aimed at stabilising energy supplies while reshaping diplomatic relations.
As implementation begins, attention is expected to focus on how the plan unfolds, its economic impact, and the wider geopolitical consequences for both nations and the global energy market.
