US and Venezuela agree on potential oil deal worth millions of barrels

US President Announces Plan for Venezuela’s Sanctioned Oil

Venezuela is expected to transfer between 30 and 50 million barrels of oil to the United States. According to a statement made by US President Donald Trump on his platform Truth Social, the oil will be sold at market prices.

The plan involves the storage of oil on ships and its direct transportation to unloading docks in the US. The revenue generated from the sale of the oil is expected to be controlled by the President, who stated that it would be used to benefit both the people of Venezuela and the United States.

Energy Secretary Chris Wright has been tasked with executing this plan, according to Trump. No further details on the logistics or timeline of the operation have been provided.

The announcement comes as part of ongoing efforts to address sanctions imposed on Venezuela by the US government. The specifics of how the oil will be used remain unclear, but it is expected that the revenue generated from its sale will be allocated in accordance with Trump’s stated intentions.

Source: Al Jazeera