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Informist, Wednesday, Jan. 7, 2026

NEW DELHI – Venezuela's interim authorities will be "turning over" between 30 million and 50 million barrels of sanctioned oil to the US, President Donald Trump said Tuesday. The oil will be sold at market prices and the proceeds would be used by the US president to benefit both countries, Trump said.

"I am pleased to announce that the Interim Authorities in Venezuela will be turning over between 30 and 50 MILLION Barrels of High Quality, Sanctioned Oil, to the United States of America," Trump said in a post on Truth Social. "This Oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States! I have asked Energy Secretary Chris Wright to execute this plan, immediately. It will be taken by storage ships, and brought directly to unloading docks in the United States."

The announcement comes days after the US captured Venezuela's President Nicolas Maduro and flew him to the US. Trump had said after Maduro's capture that the US would take control of Venezuela's oil reserves and send US oil companies to the South American country to rebuild its oil industry and infrastructure.

According to reports in US media, Trump is expected to meet representatives of oil companies on Friday to discuss investments in Venezuela.  End

Reported by Shubham Rana

Edited by Avishek Dutta

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