Overview
- Trump said Venezuela will use the oil revenues only to buy American-made goods, including farm products, medicines, medical devices and power-grid equipment.
- Energy Secretary Chris Wright stated the U.S. will sell Venezuelan oil on the market on an open-ended basis and deposit the money in accounts managed by Washington, with selective sanctions eased to enable shipments.
- Initial volumes total 30 to 50 million barrels for U.S.-supervised sale at market prices, which Trump framed as positioning the U.S. as Venezuela’s primary trading partner.
- PDVSA confirmed it is negotiating crude sales with Washington, while reports note that formal sign-off by interim leader Delcy Rodríguez and the legal underpinnings of the scheme remain unresolved.
- The White House said marketing of seized Venezuelan crude is underway, and Trump plans to meet Friday with major U.S. oil executives to discuss opportunities tied to the new framework.