US President Donald Trump has announced a landmark agreement with Venezuela, which will see the country "turn over" $2 billion worth of crude oil to the US. The deal is seen as a major coup for Trump, allowing him to divert supplies from China and further isolate the nation's former ally.
According to Trump, the oil will be sold at its market price, with the funds being controlled by the US government. "This Oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States!" Trump tweeted.
The agreement comes amid a backdrop of escalating tensions between the US and Venezuela. The Trump administration had imposed economic sanctions on Venezuelan oil companies in 2020, sparking widespread discontent among the OPEC nation's leadership. In recent weeks, Chevron has been the only company able to export Venezuelan oil to the US under a special authorisation.
The deal is seen as a significant victory for Trump, who has long sought to exert pressure on Venezuela's government. The agreement is also expected to provide a much-needed lifeline for the embattled Maduro regime, which faces mounting opposition at home and increasingly severe economic sanctions from abroad.
However, Venezuelan officials have responded warily to the deal, with interim president Delcy Rodríguez accusing the US of trying to "steal" the country's vast oil reserves. "No external agent governs Venezuela," Rodríguez said in a televised address, warning that any attempt to impose control over the nation would be met with resistance.
The agreement is also likely to have significant implications for China, which has been Venezuela's largest buyer of oil since 2013. The deal is expected to increase the volume of Venezuelan oil exported to the US, which could initially require reallocating cargoes originally bound for China.
As the situation in Venezuela continues to unfold, it remains to be seen how this latest development will play out. One thing is certain, however: the Trump administration's efforts to exert influence over the country have reached a new level of intensity.
According to Trump, the oil will be sold at its market price, with the funds being controlled by the US government. "This Oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States!" Trump tweeted.
The agreement comes amid a backdrop of escalating tensions between the US and Venezuela. The Trump administration had imposed economic sanctions on Venezuelan oil companies in 2020, sparking widespread discontent among the OPEC nation's leadership. In recent weeks, Chevron has been the only company able to export Venezuelan oil to the US under a special authorisation.
The deal is seen as a significant victory for Trump, who has long sought to exert pressure on Venezuela's government. The agreement is also expected to provide a much-needed lifeline for the embattled Maduro regime, which faces mounting opposition at home and increasingly severe economic sanctions from abroad.
However, Venezuelan officials have responded warily to the deal, with interim president Delcy Rodríguez accusing the US of trying to "steal" the country's vast oil reserves. "No external agent governs Venezuela," Rodríguez said in a televised address, warning that any attempt to impose control over the nation would be met with resistance.
The agreement is also likely to have significant implications for China, which has been Venezuela's largest buyer of oil since 2013. The deal is expected to increase the volume of Venezuelan oil exported to the US, which could initially require reallocating cargoes originally bound for China.
As the situation in Venezuela continues to unfold, it remains to be seen how this latest development will play out. One thing is certain, however: the Trump administration's efforts to exert influence over the country have reached a new level of intensity.
I think its weird that trump is trying to take control of venezuelas oil. isnt that kinda like the US telling another country what they can and cant do with their own resources? 
also, i dont get why china wouldnt just stop buying venezuela's oil if they know it will be diverted to the US... its all so shady 
just saw this news and i gotta say 
with this deal 
2 billion dollars worth of oil and he gets to control the funds 
they're suffering big time 
and now it seems like china's gonna lose out 
on all that oil 
Maduro regime is in a tough spot 
but one thing's for sure 
trump's got some guts 
or maybe just a lot of luck 
? this could lead to more problems down the line and also affect china who's been buying all that oil from them 
anyway im kinda worried about venezuela cuz they dont deserve this kinda treatment from the us government like maduro regime or whatever is happening over there is super sad but i guess its also good for the economy and china might get affected too idk id just wanna see how it all plays out tbh
it's like he's taking matters into his own hands and making that $2 billion oil deal happen 
and venezuela's gotta navigate this super delicate situation... hope it doesn't lead to more chaos 
, but at what cost? Venezuela's got its oil back under US control, but is that gonna help or hinder Maduro's regime? The more I think about it, the more I'm worried about China being left high and dry over this. What's the real play here?
i just wish something good would come out of it for the people of venezuela though... they deserve better than to have their country manipulated by someone from another continent 
" - The US President's plan for Venezuela sounds like a great idea but let's see how it plays out in reality 
. As the situation continues to unfold, it will be important to monitor developments closely to better understand the potential consequences of this deal 
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The fact that they have to agree to sell their oil at market price is basically an insult to the Venezuelan people. I mean, imagine if someone came into your house and started telling you what price you can sell your stuff for without even asking 
They deserve better than some dude from the US trying to strong-arm them into doing his bidding. This whole thing just smells like a power play to me...