Trump Says Venezuela Oil Deal Funds Limited To American Products

(MENAFN- Kuwait News Agency (KUNA)) WASHINGTON, Jan 8 (KUNA) -- US President Donald Trump stated that Venezuelan purchases financed by a new bilateral oil deal will be limited exclusively to American-made products.
Trump wrote on his Truth Social platform on Wednesday that Venezuela will buy only US-made goods using proceeds from the new oil agreement between the two countries.
He said the purchases will include American agricultural products, medicines, medical devices, and equipment to help improve Venezuela's electricity grid and energy facilities.
Trump added that this means Venezuela is committing to doing business with the United States as its principal commercial partner.
On Tuesday, Trump announced that Venezuela's interim authorities agreed to deliver between 30 and 50 million barrels of sanctioned oil to the United States under the deal.
He said the oil would be sold at market prices, adding that, as US president, he would oversee management of the revenues.
Trump said the proceeds would be used in a manner that serves the interests of both the American and Venezuelan peoples.
Following a military operation last week, Trump said the United States would manage Venezuelan affairs until a smooth and fair transfer of power takes place.
He affirmed the administration's openness to supporting US oil companies in rebuilding Venezuela's energy infrastructure, a process he said could take less than 18 months. (end)
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