President Donald Trump on Tuesday revealed that Venezuela’s interim authorities will transfer between 30 and 50 million barrels of high-quality, sanctioned oil to the United States, marking a major change in how the two countries handle Venezuelan energy exports.
In a social media statement, Trump said the oil will be sold at current market prices, with the proceeds placed under his control. He said the funds will be used “to ensure it is used to benefit the people of Venezuela and the United States.”
“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 that money will be controlled by me, as President of the United States of America.”
Trump said he has instructed Energy Secretary Chris Wright to implement the plan immediately. “I have asked Energy Secretary Chris Wright to execute this plan, immediately,” he said, adding that the oil will be transported by storage ships and delivered directly to unloading docks in the United States. “It will be taken by storage ships, and brought directly to unloading docks in the United States.”
The announcement comes shortly after the ousting of Venezuelan President Nicolas Maduro, who, along with his wife Cilia Flores, was seized by U.S. forces on January 3, 2025, and charged with narco-terrorism and serious weapons offenses in the Southern District of New York.
Maduro, 63, pleaded not guilty on Monday to four counts, including narco-terrorism, cocaine importation conspiracy, and possession of machine guns and destructive devices.
“I am innocent. I am not guilty. I am a decent man. I am still president of my country,” he said through an interpreter before being cut off by U.S. District Judge Alvin Hellerstein. The next hearing is set for March 17.
Trump did not provide further details on timelines, specific U.S. ports, or how the revenue will be allocated beyond his statement that it will benefit both countries.
The move, however, reflects a direct role for the U.S. in managing the proceeds of Venezuelan oil sales, highlighting a dramatic shift in energy and political relations.
