President Donald Trump has declared that Venezuela will soon hand over between 30 million and 50 million barrels of oil to the United States, a development he says will bring economic benefits to both Venezuelans and Americans.
Trump revealed the plan in a social media post on Wednesday, underlining that the oil, described as “high quality, sanctioned”, would be sold at market prices.
According to Trump, proceeds from the sales would be under his control as U.S. president and used for the benefit of the people of Venezuela and the United States.
“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,” Trump wrote.
“This oil will be sold at its market price, and that money will be controlled by me … to ensure it is used to benefit the people of Venezuela and the United States!” he added.
Naijaonpoint reports that the announcement comes in the wake of a highly controversial U.S. military operation in early January that resulted in the capture of Venezuelan President Nicolás Maduro and his wife.
U.S. forces launched a large-scale strike on Venezuelan soil, culminating in the swift detention of Maduro, who was then transported to New York to face charges including drug trafficking and narco-terrorism.
Following the operation, Trump said the United States would “run” Venezuela for a period of time, asserting a degree of control over the country’s governance and resources.
Interim President Sworn In Amid Tension
Shortly after Maduro’s removal from power, Delcy Rodríguez, formerly Venezuela’s vice-president, was sworn in as interim president.
In her first cabinet meeting on Sunday, Rodríguez struck a conciliatory tone towards the United States, offering cooperation within the framework of international law.
“We invite the U.S. government to collaborate with us on an agenda of cooperation oriented towards shared development within the framework of international law,” she said.
Trump’s comments about Venezuelan leadership have been unreservedly direct. He warned Rodríguez that she could “pay a very big price, probably bigger than Maduro” if she fails to comply with U.S. expectations.
In an interview with The Atlantic, Trump reiterated the threat, saying: “If she doesn’t do what’s right, she is going to pay a very big price, probably bigger than Maduro.”
He also insisted that, in his view, any regime change in Venezuela would be preferable to the status quo.
“Regime change, anything you want to call it, is better than what you have right now. Can’t get any worse,” the US President declared.
Naijaonpoint reports that the U.S. intervention and plans to tap into Venezuela’s oil resources have drawn mixed reactions globally.
Several nations and international bodies have condemned the action as a violation of Venezuelan sovereignty and international law.
Within Venezuela, the situation remains tense. Armed loyalist groups continue to operate in the capital, while the new interim government attempts to maintain order and legitimacy.