President Donald J. Trump announced that Venezuela’s interim authorities have agreed to transfer between 30 and 50 million barrels of high-quality, previously sanctioned crude oil to the United States — a move described by his administration as one of the largest single foreign oil handovers in modern history.
In a Truth Social post, the President said:
“I am pleased to announce that the Interim Authorities in Venezuela will be turning over between 30 and 50 MILLION Barrels of High Quality, Sanctioned Oil, to the United States of America. 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! I have asked Energy Secretary Chris Wright to execute this plan, immediately. It will be taken by storage ships, and brought directly to unloading docks in the United States. Thank you for your attention to this matter!”
The volume of oil — valued at roughly $1.65 billion to $2.75 billion based on current market prices for Venezuela’s heavy crude — is expected to be transported via large crude carriers directly to U.S. Gulf Coast terminals.
The announcement follows a U.S. military operation on January 3 that resulted in the capture of former Venezuelan President Nicolás Maduro and his wife, with Vice President Delcy Rodríguez sworn in as interim president on January 5.
After the news, U.S. West Texas Intermediate oil futures fell about 1.5–2% in after-hours trading, reflecting expectations of additional supply entering an already well-supplied global market.
The Trump administration frames the deal as a dual benefit: easing domestic energy prices and using proceeds to support humanitarian and reconstruction efforts in Venezuela, with the President stating he will personally oversee the disbursement.
Nigerian News Online
Interim authorities in Caracas have not yet issued a formal public confirmation of the transfer terms, though Rodríguez has signaled a willingness to cooperate on energy matters in exchange for sanctions relief.
