Trump: Venezuela to Transfer 30-50 Million Barrels of Sanctioned Oil to US
World
M
Moneycontrol•07-01-2026, 06:48
Trump: Venezuela to Transfer 30-50 Million Barrels of Sanctioned Oil to US
- •US President Donald Trump announced Venezuela's interim authorities will transfer 30-50 million barrels of sanctioned oil to the US.
- •Proceeds from the oil sale at market rates will be controlled by Trump to benefit both Venezuela and the United States.
- •The transfer, overseen by Energy Secretary Chris Wright, involves transporting oil by storage ships directly to US ports.
- •This move follows the capture of Venezuelan leader Nicolás Maduro and aims to aid Venezuela's economic restructuring.
- •Analysts note the volume, while significant, may have limited impact on US domestic fuel prices compared to past releases.
Why It Matters: Trump announced a major oil transfer from Venezuela, linking it to post-Maduro transition and US control of funds.
✦
More like this
Loading more articles...
