Philenews

Trump: Venezuela to Deliver Up to 50 Million Barrels of Oil to US – He Will Control the Revenue

Published January 7, 2026, 05:10
Trump: Venezuela to Deliver Up to 50 Million Barrels of Oil to US – He Will Control the Revenue

Donald Trump stated on Tuesday that Venezuela will “deliver” between 30 and 50 million barrels of sanctioned oil to the United States. According to Trump, he will personally control the revenue from the sale of the oil, which will be used to benefit the people of Venezuela and the US. The announcement comes just days after an operation to arrest Nicolás Maduro and bring him to the US to stand trial for drug trafficking. Officials from Venezuela and the US are already in negotiations to export crude oil from Venezuela to the United States. Refineries in the US Gulf Coast can process Venezuela’s heavy crude oil, which they imported at around 500,000 barrels per day before Washington first imposed energy sanctions. Venezuela has millions of barrels of oil stored in tankers and tanks, which it has been unable to dispose of on the market due to the embargo imposed by Trump in mid-December. Selling the oil to the US will help PDVSA reduce production as storage space runs out. The agreement could also move the oil away from China, which has been Venezuela's largest buyer in recent years. However, it is unclear how PDVSA, which is subject to sanctions, will be able to obtain revenue from the sales. The White House, the Venezuelan government, and PDVSA have not commented on the announcement.

Share:
Read Full Article on Philenews

Similar Articles

You Might Also Like

Back to News