The Daily Baku
International
Trump Says Venezuela Will Hand Over $2bn in Oil to the US
January 7, 2026
15:15
Former U.S. president Donald Trump has announced that Venezuela will transfer around $2bn worth of crude oil to the United States, a move that could significantly reduce supplies to China while easing pressure on Venezuela’s oil sector. According to Trump, the oil will be sold at market prices, with proceeds overseen by Washington to ensure they benefit both Venezuelan and American interests.
“The Daily Baku” reports that, the deal appears to reflect Caracas responding to U.S. demands to open its oil industry to American companies or face further military pressure. While Venezuelan officials and state oil firm PDVSA have not commented, the agreement suggests a shift in strategy following the capture of former president Nicolás Maduro during a U.S. operation.
Much of the oil involved has been stranded on tankers due to U.S. sanctions. Redirecting these shipments to the U.S. would likely displace cargoes previously destined for China, Venezuela’s largest oil customer over the past decade. The arrangement could also expand Venezuelan crude flows to the U.S., currently dominated by Chevron under a special license.
Despite the deal, uncertainty remains over whether Venezuela will gain access to the revenue, as sanctions continue to block PDVSA from global financial systems.
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