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U.S. Moves to Control Venezuelan Oil Sales as Trump Says Proceeds Will Buy Only U.S. Goods

Proceeds would be directed to purchases of U.S.-made goods under a sanctions loosening enabling exports.

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.