By Desire Emmanuel
President Donald Trump of the United States has announced that Venezuela’s interim authorities will turn over between 30 and 50 million barrels of high-quality, previously sanctioned crude oil directly to the United States.
This will potentially be the largest single oil handover from a foreign government to another in modern history.
Trump also added that this oil will be sold at its market price and the money made from the sale will be controlled by him.
Trump disclosed this in his Truth Social post on Tuesday night.
He wrote: “I am pleased to announce that the Interim Authorities in Venezuela will be turning over between 30 and 50 million barrels of high quality, sanctioned oil, to the United States of America.
“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!
“I have asked Energy Secretary Chris Wright to execute this plan, immediately. It will be taken by storage ships, and brought directly to unloading docks in the United States. Thank you for your attention to this matter!”
The 30–50 million barrel volume equates to roughly $1.65 billion to $2.75 billion at current market prices for Venezuela’s heavy Merey crude (approximately $55–$56 per barrel as of January 7, 2026). The oil will be transported via very large crude carriers (VLCCs) and other storage vessels directly to U.S. Gulf Coast terminals.
The announcement comes just days after the January 3 US military operation that resulted in the detention of former President Nicolás Maduro and his wife, followed by the swearing-in of Vice President Delcy Rodríguez as interim president on January 5.
The Trump administration has framed the deal as a dual benefit: relieving pressure on US energy prices while directing proceeds towards humanitarian and reconstruction efforts in Venezuela with the president stating he will personally oversee disbursement.
