Trump Says Venezuela to Turn Over 30–50 Million Barrels of Oil to U.S

Former U.S. President Donald Trump announced that Venezuela will transfer 30 to 50 million barrels of oil to the United States, marking a major development in relations between the two countries. According to Trump’s announcement, the oil will be delivered to American ports and sold at market price, with proceeds managed to benefit both Venezuelan and U.S. citizens. Reuters

Trump made the announcement on social media, stating that the resupply of crude oil follows recent interventions in Venezuela, including U.S. military actions that have heightened tensions. The oil, which had been under U.S. sanctions, is expected to be exported directly to U.S. refineries. Reuters

The deal has sparked immediate reactions in global markets. Crude oil prices declined following the announcement, as the prospect of increased supply eased near-term market concerns. The Economic Times Hindi

Analysts also note geopolitical implications: Venezuela’s main crude buyer, China, has criticized the move as a potential violation of the country’s sovereignty and international norms. The announcement arrives amid ongoing debates over U.S. policy toward Venezuela, including a maritime blockade and sanctions on its oil sector, which have drawn legal and diplomatic scrutiny. Financial Times

Key Points:

• Venezuela to deliver 30–50 million barrels of crude oil to the U.S. Reuters
• Oil to be sold at market price with proceeds controlled for bilateral benefit Reuters
• Oil prices declined post-announcement The Economic Times Hindi
• Move raises geopolitical and legal questions Financial Times