Donald Trump has announced Venezuela’s interim government will be “turning over” between 30 and 50 million barrels of “high quality” oil to the US.
The oil – worth upwards of $2bn (£1.48bn) – will be taken by storage ships and brought directly to US unloading docks, the president said on Truth Social.
It will be sold at its market price and the money generated from the sales will be controlled by Mr Trump himself, his statement added.
Energy secretary Chris Wright has been asked to execute the plan.
🚨 President Donald J. Trump announces 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. pic.twitter.com/08qI7MvCpk
— The White House (@WhiteHouse) January 7, 2026