403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Venezuela to transfer millions of barrels of oil to US—Trump
(MENAFN) US President Donald Trump said on Tuesday that Venezuela’s interim authorities have agreed to transfer between 30 and 50 million barrels of sanctioned oil to the United States, where it would be sold at prevailing market rates.
According to statements released by the president, the arrangement involves a large volume of what he described as high-quality oil. “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,” Trump said.
He added that the proceeds from the sales would be overseen directly by the US presidency. “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!” he said.
Reports indicate that Trump instructed Energy Secretary Chris Wright to move forward with the plan “immediately,” with the oil to be shipped aboard storage vessels and delivered straight to US ports.
The announcement came against the backdrop of recent US military action in Venezuela. According to reports, US forces carried out extensive airstrikes early Saturday targeting facilities in the country’s north, including air defense systems and communications networks. At the same time, special operations units conducted a raid in Caracas that resulted in the detention of President Nicolas Maduro and his wife, Cilia Flores.
During their initial court appearance on charges related to drugs and weapons, both Maduro and Flores entered pleas of not guilty.
According to officials, the current administration has portrayed the operation as part of a renewed application of the Monroe Doctrine, alongside a broader effort to combat alleged narco-trafficking and corruption, while also explicitly tying the actions to strengthening US influence over Venezuela’s significant oil resources.
According to statements released by the president, the arrangement involves a large volume of what he described as high-quality oil. “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,” Trump said.
He added that the proceeds from the sales would be overseen directly by the US presidency. “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!” he said.
Reports indicate that Trump instructed Energy Secretary Chris Wright to move forward with the plan “immediately,” with the oil to be shipped aboard storage vessels and delivered straight to US ports.
The announcement came against the backdrop of recent US military action in Venezuela. According to reports, US forces carried out extensive airstrikes early Saturday targeting facilities in the country’s north, including air defense systems and communications networks. At the same time, special operations units conducted a raid in Caracas that resulted in the detention of President Nicolas Maduro and his wife, Cilia Flores.
During their initial court appearance on charges related to drugs and weapons, both Maduro and Flores entered pleas of not guilty.
According to officials, the current administration has portrayed the operation as part of a renewed application of the Monroe Doctrine, alongside a broader effort to combat alleged narco-trafficking and corruption, while also explicitly tying the actions to strengthening US influence over Venezuela’s significant oil resources.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment