Trump says Venezuela to turn over up to 50 million barrels of crude

U.S. President Donald Trump announced on Wednesday that Venezuela’s interim authorities will transfer between 30 and 50 million barrels of high-quality oil to the United States.

In a post on Truth Social, Trump stated that the "sanctioned oil" would be sold at market prices, with the proceeds remaining under his personal control to ensure they benefit "the people of Venezuela and the United States".

The U.S. President has directed Energy Secretary Chris Wright to immediately execute the logistics, which involve transporting the crude via storage ships directly to American unloading terminals.

The announcement follows a dramatic weekend military operation that resulted in the capture of Nicolas Maduro. Analysts estimate the volume could be worth up to $2.8 billion at current market rates.