Overview
- The U.S. announced it will assume indefinite control of Venezuelan oil sales and loosen certain sanctions to allow transport and sales on world markets.
- President Trump said he will oversee the oil proceeds and that Venezuela will spend the revenue exclusively on American products such as food, medicines, and energy equipment.
- Trump also said Venezuela would deliver roughly 30 to 50 million barrels of sanctioned oil to the United States at market prices.
- Vice President JD Vance stated that Venezuelan oil sales are permissible only if they serve America's national interest and asserted U.S. control over Venezuelan money flows.
- Venezuela's state oil company PDVSA confirmed talks with Washington while Caracas has not publicly endorsed any deal, and details on which sanctions change and how revenues would be managed remain unclear.