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U.S. Seizes Control of Venezuelan Oil Sales as Trump Says Proceeds Will Fund Only American Goods

Washington outlines a sanctions loosening that routes Venezuelan oil revenues through U.S.-controlled accounts tied to purchases of American goods.

Overview

  • Energy Secretary Chris Wright said the U.S. will control Venezuelan crude sales for an indefinite period, with sanctions eased to enable transport and trading.
  • President Trump said Venezuela will deliver 30 to 50 million barrels to the United States, with proceeds held in U.S.-controlled bank accounts and spent exclusively on U.S.-made products.
  • Vice President JD Vance said the U.S. is asserting control over Venezuela’s energy flows, and PDVSA confirmed talks with Washington on oil sales as details of the sanctions relief remain unspecified.
  • Reported casualties from the U.S. operation vary, with Venezuelan officials citing about 100 dead, U.S. media estimating roughly 75, and no official U.S. toll released.
  • Chevron is viewed as well placed to expand through its PDVSA joint ventures that account for roughly a quarter of Venezuela’s output, while Citgo’s new owner Paul Singer is seen as a potential beneficiary.