US to Get 50 Million Barrels of Oil from Venezuela at Market Price: Trump
Trump added that the oil would be transported by storage ships and brought directly to unloading docks in the United States
Washington DC: US President Donald Trump announced on Tuesday that the interim authorities in Venezuela would turn over between 30 million and 50 million barrels of sanctioned oil to the United States. He said the oil would be sold at market price, but the proceeds would be controlled by him to ensure the money is used to benefit both the people of Venezuela and the United States.
In a post on Truth Social, Trump said he has asked Energy Secretary Chris Wright to execute the plan immediately. He added that the oil would be transported by storage ships and brought directly to unloading docks in the United States.
“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, announcing the move.
The announcement comes shortly after Washington carried out what it described as a “large-scale strike against Venezuela” on Saturday, during which deposed leader Nicolas Maduro and his wife, Cilia Flores, were captured and taken out of the country.
Hours after Maduro’s capture, Trump said US oil companies would spend billions of dollars to repair Venezuela’s damaged oil infrastructure and help the country start generating revenue again.
Speaking at a press conference in Florida, Trump said the United States was now in the “oil selling” business and would supply Venezuelan oil to other countries interested in buying it. He said production would increase significantly once infrastructure repairs were completed.
Trump added that Venezuela’s oil sector had been a “total bust” due to poor infrastructure, which he said had severely limited production. He claimed this would be fixed through major investment by US oil companies.
Maduro and Flores were captured in Caracas and flown out of the country in a joint operation involving intelligence agencies and US law enforcement. Trump said both have been indicted in the Southern District of New York on charges of alleged drug trafficking and narco-terrorism conspiracies and will face trial.