Trump says Interim Venezuela government will turn over 50m barrels of oil to US

United States President Donald Trump says Venezuela will turn over between 30 and 50 million barrels of oil to the US.

In a post on Truth Social, Trump said the oil would be sold at market prices and that he would control the revenues to ensure the money benefits the people of Venezuela and the United States.

He added that he had directed Chris Wright, his energy secretary, to execute the plan “immediately”.

“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,” he 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! 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’s announcement follows his declaration that the US will take over the affairs of Venezuela until a political transition is achieved.

On January 3, the US captured Venezuelan President Nicolás Maduro, extracting him to New York thereafter where he is facing charges bordering on narco-terrorism.

Trump claimed the US had “knocked out 97 percent of the drugs coming by sea”, alleging that most of the illicit substances originated from Venezuela.