US President Donald Trump. Photo : AP.
JAKARTA, JAKTIMES.COM — United States President Donald Trump has announced a major move involving Venezuelan oil that has drawn global attention. In a post on the Truth Social platform, Trump said that Venezuela’s interim authorities have agreed to hand over between 30 and 50 million barrels of high-quality crude oil to the United States.
Trump emphasized that the oil will be sold at market prices, with the proceeds placed under the direct control of the US government. According to him, the funds will be used for the benefit of people in both countries.
“This oil will be sold at market value, and the money will be under my control as President of the United States, to ensure it is truly used for the benefit of the people of Venezuela and the United States,” Trump wrote.
To implement the plan, Trump said he has instructed US Secretary of Energy Chris Wright to immediately follow up on the shipment process. The oil is expected to be transported using storage vessels before being delivered to ports in the United States.
A Controversial Backdrop
The agreement comes amid escalating geopolitical tensions. Earlier this January, the United States launched a large-scale military operation in Venezuela that resulted in the deaths of dozens of Venezuelan security personnel and the arrest of President Nicolas Maduro and his wife, Cilia Flores. Washington claims the move was part of law enforcement efforts related to alleged narco-terrorism.
Trump has also previously stated that US oil companies are interested in investing in Venezuela’s energy infrastructure. The South American country holds the world’s largest proven oil reserves.
Market Reaction and Global Energy Impact
Global energy markets reacted swiftly to Trump’s announcement. Crude oil prices came under pressure, with WTI falling by around 1.37 percent and Brent dropping about 1 percent, driven by concerns over a potential surge in US crude supply that could worsen global oversupply.
Energy analysts noted that the deal could redirect oil shipments originally destined for Asian markets—particularly China—toward the United States, intensifying competition in the global energy market (Wan)