Trump Announces Venezuela to Transfer Up to 50 Million Barrels of Oil to US, Proceeds to Be Directed for Mutual Benefit

Washington, Jan 2026 : US President Donald Trump has announced that interim authorities in Venezuela will transfer between 30 million and 50 million barrels of sanctioned oil to the United States, marking a significant development in bilateral relations and global energy flows. Trump framed the move as one that will benefit both Venezuelans and American citizens, asserting strong executive control over the process and its proceeds.

In a post on his Truth Social platform, Trump said the oil will be sold at market price and that he has directed Energy Secretary Chris Wright to execute the plan “immediately.” He added that the revenue from the sale will be controlled by him “as President of the United States of America” and used to benefit the people of both nations, though he did not provide detailed specifics on how the funds would be allocated.

“This oil will be sold at its market price, and that money will be controlled by me… to ensure it is used to benefit the people of Venezuela and the United States,” Trump wrote in his announcement. He explained that the oil will be loaded onto storage ships and transported directly to unloading docks in the United States.

The announcement comes on the heels of recent US military action in Venezuela that resulted in the capture of Venezuelan leader Nicolás Maduro and a dramatic shift in power in Caracas. US officials have since worked with interim authorities installed after Maduro’s removal, focusing on stabilising the country and reshaping its economic partnerships.

Venezuela holds the world’s largest proven oil reserves, yet its production has been severely constrained in recent years due to mismanagement, longstanding sanctions, and lack of investment — factors that crippled its once-dominant petroleum sector. The planned transfer reflects the strategic value of Venezuelan crude, particularly for the United States.

Trump’s announcement has drawn immediate global attention as the country’s heavy crude — highly suited to refineries along the US Gulf Coast — could help reshape existing crude supply patterns. Prior to US sanctions, India was one of the largest buyers of Venezuelan crude but ceased purchases after sanctions forced refiners to halt imports in 2019. A large transfer to the US now could reduce volumes directed to other markets, including China, which has been a major buyer under specially negotiated and discounted arrangements.

Experts say the value of the oil being transferred could range into the billions of dollars, depending on market prices, and could bolster energy supplies in the near term. However, the long-term impact on production depends on Venezuela’s ability to restore and invest in its ageing oil infrastructure.

Trump characterised the oil transfer as an economic and strategic decision, saying it would help weaken illicit networks and contribute to regional stability. He painted the initiative as part of a broader effort to assert US influence in the Western Hemisphere’s energy landscape.

Although proponents see the move as repositioning the United States in global oil markets, critics argue it raises complex legal and ethical questions regarding sovereignty and control of another country’s natural resources. Nonetheless, as the dynamic situation unfolds in Venezuela, the oil deal stands poised to have far-reaching implications for international energy trade and geopolitical alignments.

(The content of this article is sourced from a news agency and has not been edited by the Mavericknews30 team.)