U.S. President Donald Trump said Venezuela will deliver up to 50 million barrels of crude oil to the United States to be sold at market prices.
On the 6th (local time), Trump said on his social media, Truth Social, "The Venezuelan interim government will deliver 30 million to 50 million barrels of crude oil, which had been subject to sanctions, to the United States," and "The proceeds from the sales will be used under my control as U.S. president to benefit both the Venezuelan and American people."
He added, "I have instructed Energy Minister Chris Wright to execute this plan immediately," and "The crude will be transported by storage tankers and brought directly into unloading ports in the United States."
If U.S. imports of Venezuelan crude are authorized, Venezuela's oil export business, which has been centered on China, is likely to be overhauled across the board. Based on 50 million barrels, the crude is expected to be worth up to $3 billion (about 4.3458 trillion won) at market prices.
Earlier, Minister Wright was reported to be meeting this week with senior officials at U.S. major oil corporations such as Chevron and ConocoPhillips to discuss ways to rebuild Venezuela's oil industry.