Donald Trump has said Venezuela’s interim government will be “turning over” 30 to 50 million barrels of “high quality” oil to the US at its market price.
In a post on his Truth Social platform, the US President said the oil “will be taken by storage ships, and brought directly to unloading docks in the United States.”
He added the money would be controlled by him but would be used to benefit the people of Venezuela and the United States.
Trump said he had asked US Energy Secretary Chris Wright “to execute this plan, immediately.”
His announcement comes ahead of an Oval Office meeting scheduled for Friday with oil company executives regarding Venezuela.
With oil trading at roughly $56 a barrel, the transaction Trump announced late on Tuesday could be worth as much as $2.8bn.
The US uses an average of roughly 20 million barrels a day of oil and related products, which would make Venezuela’s transfer the equivalent of as much as two and a half days of supply, according to the US Energy Information Administration.
Despite Venezuela having the world’s largest proven crude oil reserves, it only produces on average about one million barrels day. The US average daily production was 13.9 million barrels a day in October.
Separately, officials in Caracas said at least 24 Venezuelan security officers were killed during the US military operation to capture Nicolas Maduro and take him to New York to face drug charges.
The country’s acting president, Delcy Rodriguez has also pushed back on Trump, who earlier this week warned she would face an outcome worse than Maduro’s if she does not “do what’s right”.
In an address on Tuesday, Rodriguez said, “Personally, to those who threaten me: My destiny is not determined by them, but by God.”
Venezuela’s Attorney General Tarek William Saab said overall “dozens” of officers and civilians were killed in the weekend strike in Caracas and said prosecutors would investigate the deaths in what he described as a “war crime.”
He didn’t specify if the estimate was specifically referring to Venezuelans.
In addition to the Venezuelan security officials, Cuba’s government had previously confirmed that 32 Cuban military and police officers working in Venezuela were killed in the raid.
The Cuban government says the personnel killed belonged to the Revolutionary Armed Forces and the Ministry of the Interior, the country’s two main security agencies.
Seven US service members were also injured in the raid, according to the Pentagon.
Five have already returned to duty, while two are still recovering from their injuries.
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Meanwhile, the leaders of France, Germany, Italy, Poland, Spain and the United Kingdom have joined Danish Prime Minister Mette Frederiksen in defending Greenland’s sovereignty. The island is a self-governing territory of the kingdom of Denmark and thus part of the Nato military alliance.
It came as the White House said Trump has been discussing “a range of options” to acquire Greenland.
“Greenland belongs to its people,” the statement from European leaders said. “It is for Denmark and Greenland, and them only, to decide on matters concerning Denmark and Greenland.”
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