Trump says Venezuela will turn over 30 to 50m barrels of sanctioned oil to US

Donald Trump said Venezuela will be "turning over" 30 to 50m barrels of sanctioned oil to the United States.

In a post online Trump said: "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!" He said he had asked Energy Secretary Chris Wright to "execute this plan, immediately," and that the oil would be "taken by storage ships, and brought directly to unloading docks in the United States."

The Guardian reported that Venezuela has millions of barrels loaded on tankers and in storage tanks that it has been unable to ship due to a blockade imposed by Trump since mid-December. The outlet said the blockade is part of a pressure campaign that culminated in the toppling of Nicolás Maduro, who was seized from his country by US forces over the weekend.

Reports earlier on Tuesday stated that government officials in Caracas and Washington had discussed exporting Venezuelan crude to refiners in the United States to divert supplies away from China and help state company PDVSA avoid deeper output cuts; China has been Venezuela's top buyer in the last decade. This is a breaking news story and further details remain unclear.

Key Topics

World, Donald Trump, Venezuela, Crude Oil, Pdvsa, Chris Wright