United States President Donald Trump says Venezuela will turn over between 30 and 50 million barrels of oil to the United States. He made the announcement in a post on Truth Social, saying the oil would be sold at market prices.
Mr Trump said the proceeds from the sales would be controlled by him as president, with the aim of benefiting both the people of Venezuela and the United States. He added that the oil would be transported by storage ships and unloaded at ports in the US.
The US president said he had directed the Secretary of Energy, Chris Wright, to execute the plan immediately. He described the oil as high-quality and said it was subject to existing sanctions.
Also Read: Nigeria’s Oil Output Rises to 1.7 Million Barrels Daily says NUPRC
The announcement follows Mr Trump’s declaration that the United States would take over Venezuela’s affairs until a political transition is achieved.
Leave feedback about this
You must be logged in to post a comment.