United States President Donald Trump has announced that interim authorities in Venezuela will turn over between 30 and 50 million barrels of sanctioned oil to the United States, just days after U.S. forces conducted a military operation that resulted in the capture of Venezuelan President Nicolás Maduro.
The oil, identified as high‑quality, sanctioned crude, will be sold at current market prices of approximately $55–$56 per barrel, potentially generating $1.65 billion to $2.75 billion in proceeds. Trump said he will oversee the allocation of these funds to benefit both Venezuelan and American people.
Trump announced the plan on Tuesday via a post on Truth Social, following a U.S. military operation on January 3 that resulted in the detention of Maduro and his wife. U.S. officials say they will pursue federal charges against the couple in New York.
Vice President Delcy Rodríguez was sworn in as interim president on January 5, with U.S. officials signaling that cooperation on energy issues could influence the future of sanctions and economic engagement.
“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,” he wrote on his Truth social media.
The transfer, involving large crude carriers and storage vessels destined for U.S. Gulf Coast terminals, comes amid a well‑supplied global oil market and was reported to have caused a modest decline in oil futures.
This volume represents a fraction of Venezuela’s historical oil production capacity. Current output remains constrained due to longstanding infrastructure challenges and sanctions impacts.
As of now, Venezuela’s interim authorities in Caracas have not released a detailed public statement outlining the exact terms of the agreement, though Rodríguez has indicated openness to external energy cooperation following the dramatic leadership shift. Reuters
The Trump administration frames the oil arrangement as a strategic move to ease U.S. energy pressures while directing revenue toward humanitarian aid and infrastructure reconstruction in Venezuela. Critics, however, have raised legal and ethical concerns about the U.S. military operation and the implementation of such a transfer. ft.com
China has vehemently criticized United States President Donald Trump’s initiative to seize control over Venezuela’s vast oil reserves, labeling it an unlawful and aggressive maneuver that undermines global norms and sovereign rights of nations involved in legitimate economic partnerships.
Foreign Ministry spokesperson Mao Ning declared during a press briefing that such actions represent bullying tactics by America, stating, “such bullying seriously breaches international law, infringes on Venezuela’s sovereignty, and violates the rights of the Venezuelan people.” She further emphasized protection for China’s interests.
The Trump administration recently executed a military operation in Venezuela, capturing President Nicolás Maduro and his wife Cilia Flores on drug-related charges, while announcing intentions to manage Venezuelan oil exports exclusively, demanding the expulsion of influences from China, Russia, Iran, and Cuba.
This escalation unfolded on Saturday in Caracas, Venezuela, with U.S. forces conducting strikes and detentions, followed by Trump’s Tuesday social media post outlining oil handover plans, primarily to curb illegal drug trafficking, halt migration flows, and revitalize deteriorating oil infrastructure for mutual benefits.
Mao Ning urged immediate action, saying, “China once again calls on the U.S. to release President Maduro and his wife at once, and resolve issues through dialogue and negotiation,” while condemning long-standing unilateral sanctions on Venezuela’s oil sector as illicit and destabilizing to global supply chains.
Trump justified the moves by asserting control over sanctioned oil barrels, posting that proceeds would be managed “to benefit the people of Venezuela and the United States,” with American companies poised to invest in repairs and production enhancements amid Venezuela’s economic crisis.
In the cause of the event, China stressed Venezuela’s full sovereignty over its resources, with Mao Ning noting, “The cooperation between China and Venezuela is the cooperation between two sovereign states and is under protection of international law and relevant laws,” rejecting any external interference under pretexts like drug enforcement.
