Washington, United States – The United States says it has reached an agreement with Venezuela to receive millions of barrels of sanctioned oil.
US President Donald Trump announced on his Truth Social Platform that Venezuela will transfer between 30 and 50 million barrels of oil to the United States.
The deal could be worth up to 2.8 billion dollars, based on current market prices.
According to Trump, the oil will be sold at market prices which will be controlled by himself.
The oil will be taken directly from storage vessels and shipped to American ports.
Energy Secretary Chris Wright has been tasked with implementing the agreement.
The timeline for the oil transfer remains unclear.
Data from the US Energy Information Administration shows the United States consumes about 20 million barrels a day of oil and related products.
This means that the expected Venezuelan handover would equal only roughly to two to two-and-a-half days of US demand.
This agreement comes just days after Venezuelan President Nicolas Maduro and his wife were detained in New York.
This Monday (US time), both pleaded not guilty to multiple charges including drug-related ones during their initial court appearance.
It can also be recalled that the US imposed an export blockade in Venezuela last December 2025.
Trump has also reiterated his push to open Venezuela’s energy sector to major U.S. oil companies, after claiming control of the country following the January 3 operation.