Venezuela ‘turning over’ up to 50m barrels of oil to the US, Trump says
The Guardian••general
Key Points:
- Former President Donald Trump announced that Venezuela will transfer 30 to 50 million barrels of sanctioned oil to the United States, with proceeds controlled by him to benefit both countries.
- The move aims to circumvent the US-imposed blockade on Venezuelan oil exports, which has prevented the country from shipping millions of barrels since mid-December.
- Trump instructed Energy Secretary Chris Wright to implement the plan immediately, involving storage ships transporting the oil directly to US unloading docks.
- Discussions between Caracas and Washington reportedly focus on redirecting Venezuelan crude from China to US refiners, helping PDVSA avoid further production cuts.
- This development follows the recent US-led overthrow of Venezuelan leader Nicolás Maduro and represents a shift in Venezuela’s oil export
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