Overview
- The president said interim authorities will transfer between 30 million and 50 million barrels of sanctioned crude, with proceeds managed by him and deliveries routed by storage ships to U.S. ports.
- Energy Secretary Chris Wright was directed to execute the plan immediately as the administration selectively eases sanctions to allow shipments and route proceeds into U.S.-controlled accounts.
- The White House set a Friday meeting with executives from Exxon, Chevron, and ConocoPhillips to discuss potential investment and a path to revive Venezuela’s oil operations.
- Acting leader Delcy Rodríguez rejected Trump’s assertion of a transfer, and officials in Caracas reported fatalities from the U.S. operation that seized Nicolás Maduro, with figures varying across reports.
- Experts point to unresolved legal claims, extensive infrastructure damage and workforce losses, estimating multi‑year timelines and tens of billions of dollars—up to around $100 billion—before output can significantly increase.