United States President Donald Trump has disclosed that Venezuela’s interim government has agreed to transfer between 30 and 50 million barrels of premium crude oil to the US.
Trump made the announcement on Wednesday via his Truth Social handle.
He said the oil, currently under sanctions, would be sold at prevailing international market rates.
The President explained that proceeds from the sales would be managed by his administration and deployed in ways that would benefit both Venezuelan and American citizens.
Trump added that he had instructed the US Energy Secretary, Chris Wright, to move swiftly to implement the agreement.
“I am pleased to announce that the Interim Government in Venezuela has agreed to turn over 30-50 million barrels of ‘high-quality, sanctioned oil’ to the United States,” he stated on Truth Social.
The development follows a recent US military operation under Trump’s directive, which resulted in the arrest of Venezuelan President Nicolás Maduro.
Maduro was subsequently flown to the United States to face trial on drug-related charges.
Following his arrest, Venezuela’s Vice President, Delcy Rodríguez, was sworn in as the country’s interim president.