U.S. President Donald Trump has announced that the United States will receive between 30 million and 50 million barrels of oil from Venezuela at market price, describing the move as part of a broader effort to reshape relations with the South American nation following recent political upheaval.
Speaking on Tuesday, Trump said the proceeds from the oil transaction would be used “to benefit the people” of both countries. The announcement comes as the U.S. administration pushes to open Venezuela’s vast oil sector to greater American investment and technical involvement.
Senior U.S. officials are expected to meet with major American oil executives later this week to discuss Venezuela’s energy sector and future cooperation. The discussions are aimed at stabilizing production in a country that holds the world’s largest proven crude oil reserves but has seen output decline sharply over the past decade.
The announcement follows a U.S. military operation that resulted in the capture of former Venezuelan president Nicolás Maduro. Venezuelan authorities have reported significant casualties among security forces during the operation, while U.S. officials have confirmed injuries to several American service members.
Venezuela’s acting leadership has rejected threats and pressure from Washington, insisting the country’s future will not be dictated externally. Meanwhile, officials in Caracas have described the operation as a violation of sovereignty and signalled potential legal action at the international level.
The oil deal is expected to be modest in scale relative to overall U.S. consumption but symbolically significant, as it signals Washington’s intention to play a direct role in shaping Venezuela’s political and economic direction.
The developments have triggered international concern about a more assertive U.S. foreign policy posture, particularly as Washington has also made forceful statements regarding Greenland, Colombia and Cuba. Several global leaders have reiterated the importance of sovereignty, territorial integrity and self-determination in response to the unfolding situation.