Trump Announces Plan for Transfer of 50m Barrels of Venezuelan Crude Oil to United States
The United States President Donald J. Trump has announced a plan under which Venezuela’s interim authorities would hand over between 30 and 50 million barrels of oil to the United States, describing the move as beneficial to both countries.
In a statement issued via his verified social media account, Trump said the oil, which he described as “high quality, sanctioned oil,” would be sold at prevailing market prices, with proceeds managed by the U.S. presidency to ensure the funds are used in the interest of the people of Venezuela and the United States.
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According to the statement, the oil would be transported by storage vessels and delivered directly to unloading docks in the United States. Trump added that he had directed the U.S. Secretary of Energy, Chris Wright, to implement the plan immediately.
“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,” Trump stated.
Trump did not provide further details on the legal framework governing the transaction, the identity or mandate of the “interim authorities” referenced, or how the proceeds would be allocated in practice.
By PRNigeria
