President Donald Trump has unveiled a bold plan to transfer and sell millions of barrels of Venezuelan oil previously held back under U.S. sanctions — a move signaling closer coordination between Washington and Venezuela’s interim authorities after the dramatic capture of former President Nicolás Maduro.
In a statement on social media, Trump said that between 30 million and 50 million barrels of Venezuelan oil would be shipped directly to the United States and sold at current market prices.
He added that the proceeds from those sales would be controlled by him as president and allocated to benefit both the Venezuelan people and Americans. The transfer is expected to be executed immediately under the direction of Energy Secretary Chris Wright.
Trump described the oil as “high-quality” and sanctioned, noting that it had been unable to leave Venezuelan storage due to the U.S. blockade earlier imposed on Caracas. The plan involves transporting the oil by storage ships to U.S. ports where it will be unloaded and marketed.
This announcement follows a controversial U.S. military operation earlier in the week that resulted in the capture of Nicolás Maduro and his transfer to the United States to face federal drug charges. Maduro has pleaded not guilty in New York federal court.
With Venezuela holding some of the largest oil reserves in the world, the move is being seen as a significant shift in U.S.–Venezuela relations. Analysts say the oil transfer could be worth up to $2–3 billion depending on global prices, making it one of the most consequential energy moves in recent regional history.
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