Washington, D.C. – Former President Donald Trump announced that 50 million barrels of Venezuelan oil, valued at $4.2 billion, are currently en route to the United States. Trump made the claim on January 12, stating that Venezuela's acting President, Delcy Rodriguez, personally requested the US to accept the large oil consignment. The announcement follows a recent US operation in Venezuela that led to the capture of President Nicolás Maduro and the establishment of an interim leadership. #^{[1][2][3][4][5]}## Trump's Bold Announcement Speaking to reporters aboard Air Force One, Trump detailed the significant oil arrangement. He said Rodriguez asked if the US could take up to 50 million barrels of Venezuelan oil. Trump confirmed his agreement, stating, "Yes, we can — that's $4.2 billion, and it's on its way right now to the United States." The^{[1][2][3][4][5]} former President indicated that Washington is now working "along really well" with Venezuela's new leadership. This shift comes after US forces captured Maduro earlier in January 2026. Delcy Rodriguez then assumed the role of acting president. Tru^[1][2][5]mp did not immediately clarify the specific terms of the arrangement. He also did not detail how the oil shipment connects to broader strategic negotiations between the two nations. ###^[1] Shifting US-Venezuela Oil Relations The United States has a long and complex history with Venezuela's petroleum industry, dating back to the 1920s. Venezuela was once a major oil supplier to the US. However, this relationship changed dramatically with mounting US sanctions. San^[6][7][8]ctions from the US government began in 2014 and intensified significantly under the first Trump administration in 2019. These measures aimed to pressure the government of Nicolás Maduro. The sanctions effectively halted most oil trade by 2025. Vene^{[6][9][10][8]}zuela possesses the world's largest proven crude oil reserves, estimated at about 303 billion barrels. This accounts for roughly 17% of global reserves. Most of these reserves are located in the Orinoco Belt. Desp^[11][12]ite these vast reserves, Venezuela's oil production has plummeted. Decades of underinvestment, infrastructure decay, and the impact of sanctions have crippled the industry. Production, which peaked at 3.5 million barrels per day in the 1970s, now hovers around 1 million barrels per day. Amer^{[11][13][14][12]}ican trade with Venezuela dropped sharply in 2019 and 2020 due to these sanctions. For instance, the US imported no crude oil from Venezuela in 2020 and 2021. In 2023, after some limited sanctions relief, the US imported about 30 million barrels of oil from Venezuela, valued at around $3.45 billion. ### ^[6][15]Legal and Economic Complexities Venezuela's oil reserves are state-owned and managed by its national oil company, Petróleos de Venezuela, S.A. (PDVSA). This nationalization occurred in 1976. In 2007, under Hugo Chávez, the government further renegotiated contracts, forcing foreign companies to accept minority stakes in joint ventures with PDVSA. This n^{[16][13][17][18][19]}ationalization led to disputes with US companies like ExxonMobil and ConocoPhillips, who did not accept the new terms and sought arbitration. These companies lost billions in assets. Follow^{[16][20][13][17]}ing the recent events, the US administration has indicated plans to "selectively roll back sanctions" to facilitate oil activities. On January 9, 2026, President Trump issued an Executive Order. This order exempts Venezuelan oil revenues held in US Treasury accounts from judicial proceedings. This move aims to protect these funds for public or governmental purposes. Samant^[21][22][23]ha Gross, director of the energy security and climate initiative at the Brookings Institution, stated that Venezuela's vast crude reserves "belong to the government of Venezuela." She added that while US oil companies had contractual agreements, the oil itself was never "our oil." Expert^[20]s remain cautious about the long-term implications of US control. Francisco Rodríguez, a Venezuelan economist, called Trump's claim that Venezuela "stole" US oil assets "false, completely." ### The^[16][24] Path Forward for Venezuelan Oil The Trump administration has made it clear it intends to assert control over Venezuelan oil. Energy Secretary Chris Wright said the US would "market the crude coming out of Venezuela." He also stated the US would manage all sales of Venezuela's future crude production globally. Trump h^[23][25][26]as invited US oil executives to the White House. He pressed them to invest quickly in Venezuela, aiming for around $100 billion in private investment to revive the country's oil industry. He assured executives of "total safety," stating they would deal directly with the US and not with Venezuela. However^[2][7][27], oil companies have expressed hesitation. They remember significant losses from past expropriations in 2007. ExxonMobil's CEO, Darren Woods, described Venezuela as "uninvestable" without legal and commercial reforms. Trump reacted negatively to this, suggesting he might block Exxon from investing. Chevron^[11][4][22] remains the only major US oil company still operating in Venezuela through joint ventures with PDVSA, under a special sanctions waiver. Increas^{[14][17][15][26]}ing Venezuela's oil production to its former levels would require substantial investment and many years. Estimates suggest that maintaining current production levels (around 1.1 million barrels per day) would need $53 billion in investment over 15 years. Reaching 3 million barrels per day would require about $180 billion and decades of work. While C^[11][14]hina has been a major buyer of Venezuelan crude, receiving 68% of its exports in 2023, the US administration aims to be the dominant force in Venezuela's commercial relations. The fut^{[17][28][12][25]}ure of Venezuela's oil industry and its relationship with the US remains a complex and evolving situation, marked by ambitious claims and significant geopolitical and economic challenges. META_TI^[29][30]TLE: Trump Claims $4.2 Billion Venezuela Oil Shipment Coming to US

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