Venezuela Selling Up To 50 Million Barrels of Oil To US, Trump Reveals
President Trump said Tuesday that the United States will receive a massive shipment of Venezuelan oil, announcing an agreement under which the South American country will sell tens of millions of barrels at prevailing market rates, with Washington retaining authority over how the revenue is used.
According to Trump, the deal involves a transfer of between 30 million and 50 million barrels of oil, which he said will be delivered directly to the United States. He made clear that the proceeds from the sale will not be freely handled by Venezuelan authorities.
“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 in a post on Truth Social.
He added that the oil will be sold without discounts or premiums and that the resulting funds will be placed under his supervision.
“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 has already instructed his administration to move forward with the arrangement without delay.
“I have asked Energy Secretary Chris Wright to execute this plan, immediately.”
The president also explained that the oil will be transported straight to American ports using storage vessels, streamlining the delivery process.
Trump’s announcement comes in the aftermath of the January 3 military operation that removed and captured Venezuelan dictator Nicolas Maduro. Since that operation, the president has repeatedly said he wants to see a broader American energy presence in Venezuela, including increased involvement by U.S. oil companies and expanded production in the country’s vast oil fields.
{Matzav.com}
