Trump Announces Venezuela Will Purchase US Goods With Oil Revenue
According to the Economic Desk of Webangah News Agency, President Donald Trump stated on Truth Social that Venezuela has agreed to purchase only US-manufactured goods using revenue from a newly signed oil contract. The purchases will cover agricultural products, pharmaceuticals, medical equipment, and infrastructure upgrades for Venezuela’s energy sector.
Trump disclosed on Tuesday that Venezuela would supply 30 to 50 million barrels of oil to the United States following the ousting of Nicolás Maduro, with the crude to be sold at market prices. Based on Wednesday’s trading values, this transaction could exceed $2 billion if finalized.
US Energy Secretary Chris Wright announced on Wednesday that the United States would maintain indefinite control over Venezuela’s oil sales. Speaking at the Goldman Sachs Annual Energy Conference in Miami, Wright explained, “We will bring Venezuelan crude to market – first supporting stored oil, then indefinitely selling future production from Venezuela.”
The Energy Secretary emphasized the need for this control mechanism to guide necessary changes in Venezuela, with all sales proceeds being deposited into US-controlled bank accounts. Wright clarified in a CNBC interview, “We’re not taking their oil. The funds from these sales will be returned to Venezuela.”
