President Trump on Tuesday said that Venezuelan interim authorities will “be turning over” between “30 and 50 MILLION” barrels of oil to the U.S.
The big picture: Trump said on Truth Social the sanctioned oil will be sold at market price, and the resulting revenue will be controlled “by me, as President of the United States” to “ensure it is used to benefit the people of Venezuela and the United States!” — without elaborating further.
“I have asked Energy Secretary Chris Wright to execute this plan, immediately,” he added. “It will be taken by storage ships, and brought directly to unloading docks in the United States.”
State of play: Trump will meet Friday with U.S. oil executives as he urges the companies to invest in reviving Venezuela’s production, multiple sources told Axios, after he said the U.S. may subsidize oil companies’ efforts to rebuild Venezuela’s energy infrastructure.
