U.S. President Donald J. Trump on Tuesday announced a plan under which Venezuela’s interim authorities would transfer between 30 million and 50 million barrels of oil to the United States, according to a statement released by the president on X.
In the statement, Trump said the oil, described as “high quality” and subject to sanctions, would be sold at market price.
He added that the proceeds from the sale would be overseen by him in his capacity as president, with the stated aim of ensuring the funds are used to benefit both the Venezuelan and U.S. populations.
“The Interim Authorities in Venezuela will be turning over between 30 and 50 million barrels of oil to the United States of America,” Trump said.
“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 said he had instructed Energy Secretary Chris Wright to implement the plan immediately.
According to the statement, the oil would be transported by storage ships and delivered directly to unloading docks in the United States.
The announcement did not provide further details on the legal framework for the transfer, how the proceeds would be allocated, or how the plan would interact with existing U.S. sanctions on Venezuela’s oil sector.
Officials from the Department of Energy and the Venezuelan interim authorities had not publicly commented at the time of publication.
The proposal comes amid ongoing economic and political challenges in Venezuela, as well as continued U.S. sanctions aimed at pressuring the country’s leadership.
Analysts say any large-scale transfer of sanctioned oil would likely raise significant legal, diplomatic, and policy questions.
Source :www.kumasimail.com
