President Donald Trump announced that Venezuela’s interim authorities will turn over between 30 million and 50 million barrels of sanctioned oil to the United States “immediately.” The oil, described as “high-quality” crude previously held in sanctioned stockpiles, will be sold at market prices with the proceeds managed by the U.S. government to benefit both American and Venezuelan people, Trump said.
Trump made the announcement on social media, saying he has directed Energy Secretary Chris Wright to carry out the plan without delay and that the oil will be shipped directly to U.S. unloading docks via storage vessels.
The decision follows a dramatic weekend in which U.S. forces reportedly captured former Venezuelan leader Nicolás Maduro and his wife during a military operation in Caracas. Maduro and his wife were taken to New York City to face criminal drug charges, according to reports.
Trump said the oil transfer reflects a broader strategy to leverage Venezuela’s vast petroleum reserves — among the largest in the world — to strengthen U.S. energy security while helping stabilize Venezuela’s economy amid ongoing political upheaval.
The president also indicated plans to engage major U.S. energy companies, including Chevron, ConocoPhillips, and ExxonMobil, in discussions about investing in and revitalizing Venezuela’s oil industry. Executives from these firms are expected at the White House later in the week to explore future opportunities.
Critics have raised concerns about the legality and geopolitical implications of the oil transfer and the broader U.S. role in Venezuela. According to some reports, Venezuelan officials, including interim President Delcy Rodríguez, have insisted that no foreign power is running the country, even as Trump asserts cooperation from Venezuela’s interim authorities.
Trump also drew a sharp comparison to past U.S. foreign interventions, telling an interviewer that unlike the Iraq war, the United States will “keep the oil.”
The announcement marks a significant escalation in U.S.–Venezuela relations and comes amid heated debate over energy policy, national sovereignty, and the proper role of American power abroad.
