US President Donald Trump has announced that Venezuela will use revenues from its oil sales exclusively to purchase American-made products. He shared this update on his social media platform, Truth Social, citing a new agreement regarding Venezuelan crude oil exports. The report was covered by TRT World.
According to statements from Washington, following the planned removal of Nicolás Maduro from power, a deal has been struck over Venezuela’s oil sales. The proceeds from this agreement are intended to be spent solely on products manufactured in the United States.
On Truth Social, President Trump wrote: “I have just been informed that under our new oil agreement, the money Venezuela earns will be used to buy only products made in America.”
He specified that these products would encompass a wide range of sectors, including agricultural goods, industrial machinery, medical equipment, and energy-sector apparatus. This move is seen as part of a broader strategy to strengthen US economic influence in Latin America while exerting pressure on the Maduro regime.
Meanwhile, US Energy Secretary Chris Wright stated on Wednesday that Washington will control the marketing of Venezuelan oil for an “indefinite period.” Following Trump’s announcement that Venezuela’s interim leadership would channel 30–50 million barrels of crude oil through US-managed markets, Wright elaborated on the plan.
He explained: “We will market Venezuelan oil—first using the reserved stock, and then, indefinitely, the oil produced in Venezuela will be sold under US oversight.”
Additionally, US Defence Secretary Pete Hegseth confirmed on Wednesday that the US ban on Venezuelan oil exports is enforceable “anywhere in the world.” Speaking after American forces seized tanker vessels in the Caribbean Sea and North Atlantic, Hegseth emphasised the global reach of US sanctions on Venezuelan energy exports.
Key Details of the Venezuela-US Oil Agreement
| Aspect | Details |
|---|---|
| Oil Proceeds Usage | Purchase only US-made goods |
| Products Covered | Agricultural produce, industrial machinery, medical equipment, energy-sector apparatus |
| Initial Oil Allocation | 30–50 million barrels under US-managed marketing |
| Oversight Duration | Indefinite / ongoing |
| Enforcement | US military ensures compliance globally |
| Platform of Announcement | Truth Social |
Analysts suggest that the deal represents a significant shift in the geopolitics of the region, tying Venezuela’s key resource more closely to the US economy while potentially limiting Maduro’s financial autonomy.