ALBAWABA — The U.S. has completed its inaugural sale of Venezuelan crude oil since taking control of the nation's oil industry, a U.S. official confirmed, following the arrest of President Nicolás Maduro.
The official, who requested anonymity when speaking to AFP, stated the deal was worth $500 million. The identity of the buyer remains undisclosed, and U.S. officials hinted that more oil sales might occur in the near future.
Trump: Oil Revenues to Be Managed by Washington
Earlier Thursday, White House spokeswoman Taylor Rogers announced that U.S. President Donald Trump had secured what she called a "historic" energy agreement with Venezuela, shortly after Maduro's arrest.
The agreement, she explained, was designed to benefit both American and Venezuelan people.
Last week, Trump announced that Venezuela's interim government would ship between 30 and 50 million barrels of high-quality oil, currently subject to sanctions, to the United States. He specified that the crude would be sold at prevailing market rates, with the U.S. administration directly managing the revenue.
The president subsequently stated that the funds would be allocated for the purchase of American products.
Investment Initiatives Face Doubts
Trump has also called on major international oil companies to invest in Venezuela's extensive energy resources, suggesting that potential investments could surpass $100 billion.
Darren Woods, Exxon's CEO, indicated that Venezuela isn't a draw for investment right now, citing the country's legal and commercial landscape.
Caracas is effectively shut out of the loop.
The U.S. plan dictates that Venezuelan officials won't have a say in oil production or sales. Trump made it clear to oil company leaders that all transactions would go through Washington, bypassing Caracas entirely.
To back this up, Trump signed an executive order over the weekend, declaring a national emergency. This was designed to protect Venezuelan oil revenues in U.S. Treasury accounts from any legal actions or attempts at seizure.
This represents a major intensification of Washington's involvement in Venezuela's economy, signaling a new chapter in U.S. efforts to gain control over the nation's vital oil resources.
