‘On its way to US’: Trump makes big claim on Venezuela oil; says ‘yes’ to 50 million barrels worth $4.2bn

Washington is working “along really well” with Venezuela, US President Donald Trump said on Sunday (local time), pointing to oil shipments from the country. Speaking to reporters aboard Air Force One, Trump was talking about US's approach towards the new leadership in Caracas after Nicolas Maduro was captured by American forces.

“Venezuela is really working out well. We're working along really well with the leadership, and we'll see how it all works out,” he said. The US President further added that the acting President of Venezuela, Delcy Rodriguez, asked US if they could "take 50 million barrels of oil." "I said, 'yes, we can' — that's $4.2 billion, and it's on its way right now to the United States,” Trump further added highlighting the scale of the deal. This comes as the Trump administration is pushingimed at claiming control over Venezuelan oil production and sales. Earlier this week, the president invited oil executives to the White House and pressed them to move quickly into Venezuela, saying the administration was seeking around $100 billion in private investment to revive the country’s oil industry and fully tap its large reserves.Trump said that Washington had seized tankers carrying Venezuelan oil and would now take over the sale of between 30 million and 50 million barrels that had previously been under sanctions, with the US controlling sales globally for an indefinite period.

In the meeting with oil industry leaders, Trump told executives, “You have total safety.” “You’re dealing with us directly and not dealing with Venezuela at all. We don’t want you to deal with Venezuela.” He stressed that the expected investments would come from private companies rather than public funds. “Our giant oil companies will be spending at least $100 billion of their money, not the government’s money. They don’t need government money.

But they need government protection," Trump said. According to the president, security assurances would be provided through cooperation with Venezuelan leaders and their people, rather than the deployment of US troops, although he added that companies would “bring over some security.” Trump also acknowledged the risks involved, noting that oil executives were accustomed to operating in challenging environments, even as Venezuela remains vulnerable to economic collapse. The White House meeting came shortly after US forces seized a fifth tanker in the past month linked to Venezuelan oil. The seizure reflected the administration’s determination to take control of Venezuela’s oil exports, refining and production, signalling continued US involvement in the sector as it pushes for firm investment commitments from private companies.