World

Trump announces Venezuela is turning over millions of barrels of oil to US government 'immediately'

January 7, 2026

President Donald Trump announced that Venezuela is set to transfer between 30 to 50 million barrels of sanctioned oil to the United States, a move aimed at benefiting both nations. This transfer follows the capture of Venezuelan leader Nicolás Maduro by U. S. forces and will be managed by Trump to ensure the proceeds are used appropriately.

Trump announces Venezuela is turning over millions of barrels of oil to US government 'immediately'

Credit: Foxnews

Key Highlights

Venezuela will turn over 30 to 50 million barrels of oil to the U. S.
The oil is valued at approximately $2 billion.
Trump will control the proceeds from the oil sales.
This arrangement follows the capture of Nicolás Maduro by U. S. forces.
The oil transfer is intended to divert supplies from China.

fnc Fox News article Trump administration Donald Trump US politics fox-news/world fox-news/politics fox-news/person/donald-trump Venezuela Americas fox-news/topic/venezuelan-political-crisis Nicolás Maduro fox-news/energy oil US attack on Venezuela 2bc1b751-1485-5aba-a59a-a4a2c557f00a Commodities

Sources

This quick summary is automatically generated using AI based on reports from multiple news sources. The content has not been reviewed or verified by humans. For complete details, accuracy, and context, please refer to the original published articles.

Trump announces Venezuela is turning over millions of barrels of oil to US government 'immediately'

Key Highlights

Sources

Related Stories

Iran Protests Live Updates: Iran-US Tensions Remain High Amid Donald Trump's Threat, Tehran Reopens Airspace

Rodriguez, Trump hold first call on bilateral “unresolved issues”

Indian-origin New Jersey woman arrested, charged with murdering her two young...