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LIVE: Trump says Venezuela to hand over up to 50 million barrels of oil to the US

by Punch Newspaper
January 7, 2026
in News, Uncategorized
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LIVE: Trump says Venezuela to hand over up to 50 million barrels of oil to the US
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U.S. President Donald Trump announced that Venezuela will transfer between 30 million and 50 million barrels of oil to the United States, to be sold on the open market. Trump said the revenue from these sales will be used to benefit both Venezuelans and Americans.

According to Trump, the oil will be loaded onto storage ships and brought directly to U.S. ports, and Energy Secretary Chris Wright has been ordered to begin the operation immediately.

This development comes days after U.S. forces conducted a military operation in Caracas that resulted in the removal of Venezuelan President Nicolás Maduro and his transfer to the United States, where he faces indictments. Maduro and his wife have pleaded not guilty in U.S. court.

Political reactions

  • International response: Global condemnation of the U.S. operation continues, including criticism from the United Nations and several allied nations.
  • Venezuelan leadership: Interim President Delcy Rodríguez has rejected claims that foreign countries are controlling Venezuela, insisting that her government is sovereign.

What this means

  • The planned oil transfer marks a significant escalation in U.S.–Venezuela tensions and is a major shift in control over Venezuela’s oil resources.
  • The volume of oil involved represents a one-off shipment equal to a portion of Venezuela’s current reduced output.
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