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US President Donald Trump has announced that Venezuela will deliver up to 50 million barrels of high-quality oil, worth about $2.8 billion, to the US after President Nicolás Maduro is removed from power.
Trump stated in a post on the social network Truth Social that this oil will be sold at market price and the proceeds will be controlled by him, to be used for the benefit of the Venezuelan and American people.
"I am pleased to announce that the Interim Authorities in Venezuela will deliver 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 that it is used to benefit the people of Venezuela and the United States!" he wrote.
Trump added that he has asked Energy Secretary Chris Wright to implement this plan “immediately.” According to him, the oil will be transported by storage ships and sent directly to unloading ports in the United States.
This development comes after the swearing-in of Delcy Rodríguez as interim president of Venezuela, while Maduro has been transferred to the US to face charges of drug and arms trafficking.
Trump has added that the US oil industry will return to Venezuela within 18 months, expecting major investments in the country. However, as the BBC writes in an article, analysts warn that restoring Venezuela's former production could require tens of billions of dollars and up to a decade of time.
Meanwhile, representatives of major US oil companies are expected to meet this week with the Trump administration to discuss investment opportunities. Experts remain skeptical that these plans will have an immediate impact on global supply and oil prices, noting that companies seek guarantees of political stability before committing to long-term projects.
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