President Donald Trump announced late Tuesday, January 6, 2026, that interim authorities in Venezuela will transfer between 30 and 50 million barrels of high-quality, sanctioned oil to the United States.
Kabul 24: In a post on Truth Social, Trump stated the oil would be sold at market prices, with the proceeds remaining under his personal control “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.
He directed Energy Secretary Chris Wright to execute the plan immediately, with the oil transported via storage ships directly to U.S. unloading docks.
This development follows a U.S. military operation over the weekend that resulted in the capture and removal of former Venezuelan President Nicolás Maduro and his wife, Cilia Flores.
Maduro, facing federal drug-trafficking and narco-terrorism charges in New York, pleaded not guilty during his arraignment on Monday.Venezuela holds the world’s largest proven oil reserves—approximately 303 billion barrels—but production has plummeted to around 1 million barrels per day due to sanctions, mismanagement, and infrastructure decay.
The announced volume likely comes from onshore storage facilities (with capacity near 48 million barrels) and seized tankers, accumulated during U.S. embargoes.At current market prices of about $55-56 per barrel for Venezuelan crude, the sale could generate between $1.65 billion and $2.75 billion. U.S. crude prices dipped roughly $1 per barrel following the announcement, reflecting increased supply expectations.
Trump has pledged to mobilize major U.S. oil companies to invest billions in rebuilding Venezuela’s oil infrastructure, aiming to boost production significantly within months.
Meetings with executives from firms like ExxonMobil, Chevron, and ConocoPhillips are reportedly scheduled at the White House.Critics have raised concerns over the arrangement, questioning the legal framework for personal presidential control of proceeds and potential impacts on regional stability.
The interim Venezuelan government has not issued an official response to Trump’s announcement.The move underscores Trump’s aggressive approach to leveraging Venezuela’s resources post-Maduro, amid ongoing international debate over the U.S. operation that ousted the former leader.
