Overview
- President Trump said Venezuela will use oil revenues exclusively to purchase U.S.-made products, citing food, medicines, equipment and power-grid gear.
- The administration said it will control Venezuelan oil sales on an open-ended basis and route proceeds into U.S.-controlled accounts, with Energy Secretary Chris Wright acknowledging transparency questions remain.
- The U.S. announced a loosening of Venezuela sanctions to enable transport and sales on global markets, and PDVSA confirmed talks with Washington about oil transactions.
- Trump said interim authorities agreed to deliver between 30 and 50 million barrels of sanctioned oil to the United States for sale at market prices under U.S. control.
- Chevron is positioned to expand in Venezuela after a reported new Treasury license, and investor Paul Singer’s Citgo purchase could gain value, even as Democrats and Germany question the legality of Washington’s approach.