US to receive up to 50 million barrels of Venezuelan oil: What Trump has announced | US-Venezuela

Last Updated: Jan 07 2026 | 8:47 PM IST

US President Donald Trump has announced that Venezuela’s interim authorities will hand over up to 50 million barrels of sanctioned oil to the United States. The oil will be sold at market prices, with proceeds controlled by the US president. Here's what he has announced, how it will work, and why it matters.

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