US Secures $2 Billion Worth of Venezuelan Oil, Boost to Trump's Pressure Campaign
In a significant development, US President Donald Trump has announced that Venezuela will be "turning over" approximately $2 billion worth of crude oil to the United States. This landmark deal could divert crucial supplies from China while helping Venezuela avoid deeper oil production cuts.
According to Trump, the oil will be sold at its market price, and he plans to have control over the funds to ensure they are used to benefit both the people of Venezuela and the US. However, it remains unclear how the Venezuelan government will handle their share of the revenue, given that sanctions imposed by the US prevent them from participating in the global financial system.
The agreement is a notable shift in tone for top Venezuelan officials, who have previously accused the US of trying to steal the country's vast oil reserves. Venezuela has millions of barrels of oil loaded on tankers and in storage tanks that have been unable to ship due to the blockade imposed by Trump as part of his pressure campaign.
Delcy Rodríguez, interim president of Venezuela, has called for cooperation with the US government despite Trump's assertions that she is running the country. Rodríguez described Saturday's strike as a "terrible military aggression" and accused the US of committing an "absolutely illegal outcome" in kidnapping Maduro and his wife.
The deal could lead to increased exports of Venezuelan oil to the US, currently controlled by Chevron, which has been exporting around 100,000-150,000 barrels per day. This move could potentially reallocate cargoes originally bound for China, a major buyer of Venezuelan oil since Trump imposed sanctions in 2020.
As news of the deal spread, US crude prices fell more than 1.5% following Trump's announcement. The agreement is expected to increase the volume of Venezuelan oil exported to the US, while also putting pressure on China to reconsider its energy imports from Venezuela.
In a significant development, US President Donald Trump has announced that Venezuela will be "turning over" approximately $2 billion worth of crude oil to the United States. This landmark deal could divert crucial supplies from China while helping Venezuela avoid deeper oil production cuts.
According to Trump, the oil will be sold at its market price, and he plans to have control over the funds to ensure they are used to benefit both the people of Venezuela and the US. However, it remains unclear how the Venezuelan government will handle their share of the revenue, given that sanctions imposed by the US prevent them from participating in the global financial system.
The agreement is a notable shift in tone for top Venezuelan officials, who have previously accused the US of trying to steal the country's vast oil reserves. Venezuela has millions of barrels of oil loaded on tankers and in storage tanks that have been unable to ship due to the blockade imposed by Trump as part of his pressure campaign.
Delcy Rodríguez, interim president of Venezuela, has called for cooperation with the US government despite Trump's assertions that she is running the country. Rodríguez described Saturday's strike as a "terrible military aggression" and accused the US of committing an "absolutely illegal outcome" in kidnapping Maduro and his wife.
The deal could lead to increased exports of Venezuelan oil to the US, currently controlled by Chevron, which has been exporting around 100,000-150,000 barrels per day. This move could potentially reallocate cargoes originally bound for China, a major buyer of Venezuelan oil since Trump imposed sanctions in 2020.
As news of the deal spread, US crude prices fell more than 1.5% following Trump's announcement. The agreement is expected to increase the volume of Venezuelan oil exported to the US, while also putting pressure on China to reconsider its energy imports from Venezuela.
This $2 billion deal with Venezuela does seem like a clever move by Trump, but I'm not entirely convinced that it's all about saving Venezuela from deeper oil production cuts. The fact that the US is now taking control of the funds could be a slippery slope for Maduro and his government. It's almost as if they're being given a choice between their national interests or meeting with American demands 
.
.
.
. The fact that they're willing to part with $2 billion worth of oil is a big deal - it shows that the Venezuelan government might be feeling the heat from the sanctions.
It's not just about the money; it's about who's in control here. Trump's saying he wants to benefit both Venezuela and the US, but how can we trust that when his track record on these kinds of deals is so spotty? I mean, what guarantees does anyone really have that this oil isn't going to end up being used for some other nefarious purpose?
. One thing's for sure: the Venezuelan people are the ones who're gonna suffer most in the long run 
.
. It's a clever move by Trump to boost his ego and show he's got the upper hand, but I wonder how much of an impact it'll really have. The Venezuelans are still in a tough spot, they need that money to survive, not just to line Trump's pockets 
. But at the end of the day, it's all about power and control, right? The US thinks they can bully Venezuela into submission, but I'm not so sure that'll work out in their favor 
according to eia.gov, venezuela used to export around 770,000 barrels per day in 2018, but since trumps sanctions came into play, that number dropped to less than 200k. fast forward to now, with this $2b deal, it's projected that venezuela can ship out around 400-500k barrels daily by next year 
, which is a huge boost to the US energy sector! 
as for us crude prices, yeah they took a hit after trump's announcement, but i still think they'll recover soon 
. But at the same time, $2 billion is a pretty big chunk of change, and it could definitely make a difference in the lives of Venezuelans. I wonder if Delcy Rodríguez's stance on cooperation will hold up when faced with the reality of this deal... her words sound like she's still trying to rally support for the opposition 
. Anyway, it'll be interesting to see how this plays out and whether Trump really follows through on his promises 
