US President Donald Trump said on Friday that Venezuela had offered Washington 50 million barrels of oil worth $5.2 billion, and he had agreed to the deal.
Speaking at an event where Southern Boulevard was renamed Donald J. Trump Boulevard, he said, "We're talking to the new president. We're talking to the people who are running the country. They said, 'We have 50 million barrels of oil, and we need to process it immediately because we don't have the space. Will you take it?' I said, 'We'll take it. That's $5.2 billion."
Trump praises "great relationship" with Venezuela.
Trump also praised the "great relationship" with the Venezuelan interim government formed after a US military operation to apprehend former Venezuelan President Nicolás Maduro. He said, "We've had a very good relationship with the current interim president and everybody else. It's taken a lot of pressure off."
News of the deal had already surfaced.
Following Maduro's arrest, Trump had made it clear that Washington would be running Venezuela during this period and needed full access to its oil and other resources. Trump's comments also confirm a recent report from the New York-based news outlet Semafor that the US had purchased its first oil from Venezuela, worth $500 million.
Why is Trump having US companies invest in Venezuela?
According to a Semafor report, an administration official said the revenue from the oil sales is currently being held in bank accounts controlled by the US government.
According to another senior administration official, the main account is located in Qatar.
According to a CNN report, Venezuela has vast reserves of 303 billion barrels of crude oil, which, according to the US Energy Information Administration (EIA), is roughly one-fifth of the world's global reserves. Earlier, Trump had said that he planned to enlist major American oil companies to invest billions of dollars to repair Venezuela's damaged oil infrastructure.
Deepak Chahar's Sister Takes a Dig at Hardik? Malti Praises Suryakumar's Captaincy, Says:
The excitement of IPL 2026 has reached a fever pitch among fans. As the tournament draws closer t
Ever since Aditya Dhar’s film ‘Dhurandhar 2’ hit theaters, it has set numerous
It is proving extremely difficult for Chief Minister Mamata Banerjee to come to terms with the cr
Everyone is reveling in the success of Ranveer Singh's film, Dhurandhar: The Revenge. From the So
The Rajasthan Royals have halted the Punjab Kings’ winning streak. The RR team successfully
Neetu Kapoor and Kapil Sharma’s upcoming film, Daadi Ki Shaadi, is set to hit theaters on M
The Central Government has proposed amendments to the Information Technology (Intermediary Guidel
On Monday, weather patterns are expected to shift across various parts of the country. In North I
One AC for the Entire House? Here’s How Mini-Split Air Conditioning Systems Work
Standard split or window ACs designed for home use are capable of cooling only a single room. If
At a rally in Malda, West Bengal, Prime Minister Modi delivered a major political message, highli
