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Gate Square New & Returning Creator Rewards are ongoing!
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Trump: Venezuela to Deliver 30-50 Million Barrels of Oil to the US
Trump announced that the interim government of Venezuela will transfer 30 to 50 million barrels of sanctioned oil to the United States for sale at market price, with the proceeds to be used for the benefit of the Venezuelan and American people.
At the same time, Venezuela must meet US cooperation requirements to obtain further drilling permits. PANews January 7 reported that President Trump stated on social media that the interim authorities of Venezuela will transfer 30 to 50 million barrels of high-quality, sanctioned oil to the United States.
These oils will be sold at market price, and the proceeds will be controlled by me to ensure they are used to benefit the people of Venezuela and the United States.
I have instructed Energy Secretary Rick to immediately execute this plan. These oils will be transported via storage and shipping vessels and directly delivered to US unloading docks.
Based on the closing price of US oil futures on Tuesday, the value of 30 to 50 million barrels of oil is approximately $1.71 billion to $2.86 billion. According to ABC News, sources revealed that the Trump administration has informed Venezuela's interim President Guaidó that he must meet the White House's requirements to obtain further oil drilling permits.
These requirements include that Venezuela must agree to cooperate only with the US in oil production and prioritize the US when selling heavy crude oil.