Trump Says Venezuela Will Send 30–50M Barrels of Sanctioned Oil
- Trump wants to sell Venezuela's oil in the US market, overseeing the proceeds.
- The oil plan is part of Trump's broader effort to 'take back' Venezuela's energy sector.
- Experts question the feasibility and impact of the plan due to global oil supply and production challenges in Venezuela.
President Donald Trump has announced a new plan involving Venezuela’s oil reserves, saying that between 30 and 50 million barrels of sanctioned Venezuelan oil will be transferred to the United States.
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According to Trump, the oil has been sitting in storage due to long-standing U.S. sanctions on Venezuela, which have restricted the country’s ability to export crude. He said the oil would be sold at market prices, and that his administration would oversee the proceeds to ensure the funds are used in ways that benefit both the Venezuelan people and the United States.
In a post shared on his Truth Social platform, Trump said he has instructed Energy Secretary Chris Wright to carry out the plan immediately. He explained that the oil would be loaded onto storage ships and transported directly to U.S. ports for unloading.
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The announcement comes as Trump continues to take a hard line on Venezuela’s leadership, particularly President Nicolás Maduro. Trump has repeatedly criticized Maduro’s government and has framed the oil plan as part of a broader effort to “take back” Venezuela’s energy sector and revive what was once one of the world’s most productive oil industries.
Trump has also suggested that U.S. oil companies are ready to invest billions of dollars to rebuild Venezuela’s deteriorated energy infrastructure. However, under international law, the United States does not have any ownership claim over Venezuela’s oil. While the late Hugo Chávez nationalized parts of the oil sector in the 2000s, including assets owned by American companies, those actions do not grant the U.S. rights to Venezuela’s reserves.
Major U.S. oil companies such as Exxon Mobil, Chevron, and ConocoPhillips have not publicly commented on Trump’s proposal. Reports indicate that representatives from several energy firms are expected to meet with Trump soon to discuss Venezuela and its oil sector.
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Energy analysts note that while 30 to 50 million barrels may sound significant, the real impact depends on how quickly the oil is delivered. Global oil consumption exceeds 100 million barrels per day, and the U.S. alone produces roughly 14 million barrels daily. Experts say that if the oil is released over a short period, it could be more noticeable, but spread out over a year, the effect on global markets would likely be modest.
There is also uncertainty surrounding Trump’s claim that his administration would control how the oil revenues are distributed. Analysts say there is little precedent for the U.S. managing proceeds from another country’s natural resources in this way, raising questions about how such a system would function in practice.
Venezuela’s oil industry, once a global powerhouse, has been severely weakened by years of underinvestment, corruption, and sanctions. Restoring production to levels seen in the 1990s would require massive financial and technical investment and could take many years. Today, despite holding the world’s largest known oil reserves, Venezuela accounts for less than one percent of global oil output.
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Trump Says Venezuela Will Send 30–50M Barrels of Sanctioned Oil was originally published on rickeysmileymorningshow.com
