Wayne Lumbasi
U.S. President Donald Trump has announced that Venezuela will transfer between 30 million and 50 million barrels of crude oil to the United States, a move that marks a significant shift in the energy and political landscape of the region.
Trump said the oil would be sold at prevailing market prices, with the proceeds managed by the U.S. government. He added that the funds would be used in a way that benefits both the United States and the Venezuelan people.
Much of the oil involved is currently held in storage or aboard tankers, previously limited by sanctions and export restrictions. Trump said the crude would be transported to U.S. ports and sold through standard commercial channels.
“This oil will be sold at market price, and the money will be properly managed to ensure accountability,” Trump said, adding that U.S. energy officials have been directed to implement the plan immediately.
At current global prices, the transfer could be valued at between $2 billion and $3 billion, depending on crude quality and market conditions. The move could also redirect Venezuelan crude away from China, which has been a major buyer of Venezuelan oil in recent years, signaling a shift in regional energy flows and geopolitical influence.
The transfer of Venezuelan oil to the United States is expected to have direct implications for China. By diverting a substantial portion of Venezuelan crude to the U.S., the deal could reduce the volume of oil available to Chinese refineries, potentially requiring China to seek alternative sources or adjust existing supply arrangements. This shift highlights a broader geopolitical move, as the United States positions itself to increase influence over a market that China had relied upon for discounted crude. The development could reshape energy trade patterns in the region and affect U.S.-China economic relations.
Venezuela, home to the world’s largest proven oil reserves, has struggled with declining production due to sanctions, underinvestment, and operational challenges. The proposed transfer comes amid political changes that have reshaped control over the country’s energy resources.
U.S. officials say the plan is intended to strengthen American energy security while ensuring that Venezuelan oil reaches the market efficiently. Discussions are reportedly ongoing about future U.S. involvement in Venezuela’s oil industry once conditions allow.
Trump described the arrangement as a “significant step” in reshaping U.S.–Venezuela relations and indicated that additional details would follow in the coming days.
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