President Donald Trump announced Tuesday that interim authorities in Venezuela will transfer tens of millions of barrels of oil to the United States.
Trump said on Truth Social early Saturday that U.S. forces seized Nicolás Maduro and ousted him during a large-scale strike in Venezuela. Trump announced on a Truth Social post that Venezuela will turn over between 30 million and 50 million barrels of high-quality, sanctioned oil to the United States.
“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,” Trump wrote. “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!”
The president directed Energy Secretary Chris Wright to carry out the plan immediately.
“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,” Trump added.
After Trump removed Maduro, the United States positioned itself to dominate the Western Hemisphere and exploit Venezuela’s vast energy resources, energy experts told the Daily Caller News Foundation. Experts said American firms once built and led Venezuela’s oil industry until Hugo Chávez nationalized it. Trump’s move now opens the door for renewed U.S. influence. With Chevron currently the only major American operator in the country, analysts argued that Washington can use its leverage over Venezuela to gain a geopolitical edge over China, Russia, and even Canada in the years ahead.
Venezuela holds the largest proven crude reserves on the planet, yet roughly 50% of its citizens live in poverty. The administration and economists such as The Heritage Foundation’s Chief Economist E.J. Antoni said that restoring Venezuela’s oil sector through cooperation with the United States could produce clear benefits for both countries.
China and Russia spent years deepening their influence in Venezuela, with a Russian state-owned energy company emerging as a major partner in oil production after U.S. sanctions shut out many other buyers. In recent years, most Venezuelan oil exports went to China, cementing Beijing’s dominant role in the country’s energy trade.
(Featured Image Media Credit:Â Screenshot/Fox News/”Hannity”)
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