US to receive millions of barrels of Venezuelan oil, Trump announces.
In a surprise move, US President Donald Trump has announced that Venezuela's interim authorities will sell 30 million to 50 million barrels of oil to the United States at market prices. The sale is expected to be executed immediately, with the proceeds being controlled by the US administration and used to benefit both Venezuela and the US.
The announcement comes after the weekend capture of Venezuelan President Nicolรกs Maduro and his wife, Cilla Flores, following a "large-scale strike" against Caracas. Maduro faces charges of narco-terrorism, which the US administration has blamed on Venezuela for the flow of deadly drugs into the country.
Trump has stated that his administration will "run" Venezuela and is pressuring the country's leaders to open its vast oil reserves to American energy companies. However, experts are skeptical about the US capacity to turbocharge a sector that has long been neglected in Venezuela, especially if instability in the country follows Maduro's arrest.
The news has sparked concerns among critics who accuse Trump of having secondary goals for ousting Maduro, particularly considering that Venezuela has not been a major producer of cocaine since the 2010s and does not produce fentanyl. The US president has stated that the money made through this wealth will be used to reimburse the US for damages caused by Venezuela.
The White House is planning an Oval Office meeting with oil company executives on Friday, including representatives from Exxon, Chevron, and ConocoPhillips. Meanwhile, Rodriguez, the acting President of Venezuela, has warned those who threaten her that "my destiny is not determined by them, but by God."
It remains to be seen how this deal will impact the global energy market or affect oil prices. The announcement has also sparked debate about Trump's intentions for Venezuela and whether his plan can help stabilize the country.
In a surprise move, US President Donald Trump has announced that Venezuela's interim authorities will sell 30 million to 50 million barrels of oil to the United States at market prices. The sale is expected to be executed immediately, with the proceeds being controlled by the US administration and used to benefit both Venezuela and the US.
The announcement comes after the weekend capture of Venezuelan President Nicolรกs Maduro and his wife, Cilla Flores, following a "large-scale strike" against Caracas. Maduro faces charges of narco-terrorism, which the US administration has blamed on Venezuela for the flow of deadly drugs into the country.
Trump has stated that his administration will "run" Venezuela and is pressuring the country's leaders to open its vast oil reserves to American energy companies. However, experts are skeptical about the US capacity to turbocharge a sector that has long been neglected in Venezuela, especially if instability in the country follows Maduro's arrest.
The news has sparked concerns among critics who accuse Trump of having secondary goals for ousting Maduro, particularly considering that Venezuela has not been a major producer of cocaine since the 2010s and does not produce fentanyl. The US president has stated that the money made through this wealth will be used to reimburse the US for damages caused by Venezuela.
The White House is planning an Oval Office meeting with oil company executives on Friday, including representatives from Exxon, Chevron, and ConocoPhillips. Meanwhile, Rodriguez, the acting President of Venezuela, has warned those who threaten her that "my destiny is not determined by them, but by God."
It remains to be seen how this deal will impact the global energy market or affect oil prices. The announcement has also sparked debate about Trump's intentions for Venezuela and whether his plan can help stabilize the country.