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$4.2 Billion Venezuelan Oil Shipment En Route to US, Says Trump

US President Donald Trump announced that a $4.2 billion shipment of Venezuelan oil is currently en route to the United States following a request from Venezuela's interim leadership. This comes after Trump signed an executive order declaring a national emergency to protect Venezuelan oil revenue held in US accounts from legal seizure. The order blocks any judicial process against these funds, designating them as sovereign property of Venezuela held for diplomatic purposes. The development follows Trump's meeting with energy executives to promote investment in Venezuela's sector and comes amid condemnation from Venezuelan officials over the US capture of former leader Nicolás Maduro.

Key Points: Trump: $4.2B Venezuela Oil Shipment Heading to US

  • $4.2B oil deal confirmed
  • Executive order freezes Venezuelan funds
  • Aimed at advancing US policy
  • Funds blocked from private claims
2 min read

$4.2 billion worth of oil from Venezuela on its way to the US right now: US President Donald Trump

President Trump confirms a major oil deal with Venezuela's interim leadership, as a new executive order protects Venezuelan oil funds in the US.

"She asked us if we could take 50 million barrels of oil, and I said yes, we can, it is worth $4.2 billion, and it is on its way right now to the United States... - Donald Trump"

Washington DC, January 12

US President Donald Trump spoke to reporters aboard Air Force One on the situation in Venezuela on Sunday. He said, "Venezuela is really working out well. We're working along really well with their leadership, and we'll see how it all works out."

Trump also spoke with the interim President of Venezuela, Delcy Rodriguez. On the meeting Trump said, "She's been very good. She asked us if we could take 50 million barrels of oil, and I said yes, we can, it is worth $4.2 billion, and it is on its way right now to the United States..."

This development comes after the President on Friday (local time) signed an Executive Order declaring a national emergency to protect Venezuelan oil revenue held in US Treasury accounts from legal attachment or judicial seizure, saying the move is aimed at advancing US foreign policy and national security objectives.

According to the White House, the Executive Order blocks any attachment, judgment, lien, execution, garnishment or other judicial process against Venezuelan oil revenues and diluent sales deposited in US Treasury accounts.

These funds, termed "Foreign Government Deposit Funds," are to remain frozen unless specifically authorised under the new order. The order also prohibits any transfer or dealing in the funds and overrides earlier directives that may have regulated or restricted such transfers or dealings. It states that the oil revenues are the sovereign property of Venezuela, held in US custody for governmental and diplomatic purposes, and cannot be claimed by private parties.

Before this, US President Donald Trump on Friday (local time) met with top oil and gas executives at the White House to promote major investments in Venezuela's energy sector, and said that "a lot of money is going to be made".

Earlier, on Saturday, Venezueland Interim President Delcy Rodriguez stated that the US action that led to the capture of deposed dictator Nicolas Mauro and his wife "will go down in history as a major stain" on relations between Washington and Caracas.

In a speech broadcast on the state channel Venezolana de Television (VTV), Rodriguez reiterated that the Executive Branch "will not cease to condemn the criminal aggression" that culminated in the capture of Maduro, currently detained in New York.

- ANI

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Reader Comments

P
Priya S
Interesting move. With global oil prices fluctuating, securing supply is key. I wonder if this affects the overall market price and, in turn, our petrol prices here in India? 🛢️
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Arjun K
The US always finds a way to benefit from another country's crisis. First they sanction, then they "help" by buying resources. Venezuela's people are the ones who will suffer the most in this power play.
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Sarah B
From an economic perspective, the executive order to protect those funds from seizure is a shrewd move to maintain control. It's a reminder that in international relations, money and resources are the ultimate levers of power.
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Karthik V
"A lot of money is going to be made" – Trump said it himself. This isn't about helping Venezuela, it's a business transaction. Hope our government learns to navigate such deals with a clear focus on our national interest, not just profits for a few.
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Nisha Z
The whole situation is so messy. One day they call the leadership a dictatorship, the next they're doing multi-billion dollar deals with them. It sends a very confusing signal about what principles they actually stand for.

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