Trump says Venezuela to transfer up to 50 million barrels of oil to US

"This oil will be sold at its market price and that money will be controlled by me, as President of the US, to ensure it is used to benefit the people of Venezuela and the US," he said.

07 Jan 2026 09:29am

WASHINGTON - US President Donald Trump said Tuesday that interim authorities in Venezuela had agreed to transfer between 30 and 50 million barrels of sanctioned oil to the US to be sold at market price, Anadolu Ajansi reported.

"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," Trump said in a statement via the Truth Social platform.

Activists gather to protest against US President Donald Trump's recent action in Venezuela on Jan 6, 2026 in Pasadena, California, calling on Congress for an immediate end to military action, accountability for President Trump's actions and diplomacy over war. - (Photo by Frederic J. Brown / AFP)
Activists gather to protest against US President Donald Trump's recent action in Venezuela on Jan 6, 2026 in Pasadena, California, calling on Congress for an immediate end to military action, accountability for President Trump's actions and diplomacy over war. - (Photo by Frederic J. Brown / AFP)

The president added that Energy Secretary Chris Wright had been asked to execute the plan "immediately," with the oil to be transported on storage ships directly to US unloading docks. - BERNAMA

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