The United States says it's set to receive a shipment of crude oil from South America following a significant diplomatic and economic arrangement brokered by the White House involving sanctioned assets.
In a statement issued via his Truth Social platform, U.S. President Donald Trump announced that an agreement has been reached with the "Interim Authorities" in Venezuela. The deal involves the transfer of significant energy reserves to American custody, marking a major escalation in the administration's approach to managing Venezuelan assets and sanctions.
"I am pleased to announce that the Interim Authorities in Venezuela will be turning over between 30 and 50 million barrels of high quality, sanctioned oil, to the United States of America," President Trump wrote.
The President emphasised that the liquidity generated from this transfer would be managed strictly under U.S. executive oversight.
"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 stated.
Under this new directive, assets are being actively liquidated and repurposed though specific details on the financial mechanism remain forthcoming.
To oversee the complex logistical operation of moving millions of barrels of crude, the President has deployed his top energy official.
"I have asked Energy Secretary Chris Wright to execute this plan, immediately. It will be taken by storage ships, and brought directly to unloading docks in the United States," Trump added.
Chris Wright is known for his pragmatic approach to fossil fuels and has a background in the fracking industry.
Venezuela holds the world's largest proven oil reserves, yet its production capabilities have been severely hampered by years of mismanagement and international sanctions according to experts.
Market analysts will be watching closely to see how the introduction of up to 50 million barrels impacts global oil prices, and whether this model of asset transfer will be applied to other sanctioned nations in the future.
French supporters celebrated outside the biathlon stadium in Anterselva on Tuesday (17 February) after France claimed Olympic gold in the men’s rela...
More than 80 countries and organisations, including the UN Arab Group representing 22 Arab states and members of the Organisation of Islamic Cooperati...
Day 11 of the Milano Cortina 2026 Winter Olympics delivered decisive performances, medal celebrations and emotional tributes as the Games moved deeper...
The Kremlin has sought to lower expectations ahead of the latest round of Ukraine peace talks in Geneva, saying no announcements should be expected on...
Kyrgyzstan faces a critical political turning point as elite splits and public protests highlight deep divisions in Bishkek. Analysts warn that Presid...
President Donald Trump said he will be involved “indirectly” in nuclear negotiations between the United States and Iran in Geneva, as both sides resume diplomacy against a backdrop of military pressure and deep mistrust.
U.S. President Donald Trump said on Sunday that member states of the newly formed Board of Peace will announce pledges exceeding $5 billion for Gaza’s reconstruction during the first official gathering in Washington this week on Thursday.
Iran is pursuing a nuclear agreement with the U.S. that delivers economic benefits for both sides, an Iranian diplomat was reported as saying on Sunday (15 February), days before a second round of talks between Tehran and Washington.
At least eleven Palestinians were killed in Israeli airstrikes in the northern and southern Gaza Strip on Sunday (15 February), Palestinian civil defence and health officials said, in what Israel's military called a response to Hamas ceasefire violations.
Iran’s Supreme National Security Council Secretary Ali Larijani said the United States could evaluate its own interests separately from those of Israel in ongoing negotiations between Tehran and Washington.
Cuba’s fuel crisis has turned into a waste crisis, with rubbish piling up on most street corners in Havana as many collection trucks lack enough petrol to operate.
Norway is holding a commanding lead in the medal standings with 12 golds and a total of 26, with Italy having an historic performance on home soil on the ninth day of the Milano-Cortina Winter Olympics on Sunday (15 February).
Iran’s Revolutionary Guards navy held military exercises in the Strait of Hormuz on Monday (16 February), state-linked media reported. The drill took place a day before renewed nuclear negotiations between Tehran and Washington in Geneva.
United States is preparing for the possibility of sustained, weeks-long military operations against Iran, two U.S. officials told Reuters as the images of the USS Abraham Lincoln carrier strike group sailing and flying in formation were released on Sunday.
Peru’s Congress has voted to censure and remove José Enrique Jeri Ore from his posts as President of Congress and acting President of the Republic, just four months into his tenure, citing undisclosed meetings with Chinese businessmen and alleged hiring irregularities.
French supporters celebrated outside the biathlon stadium in Anterselva on Tuesday (17 February) after France claimed Olympic gold in the men’s relay, describing the race as thrilling and the atmosphere electric.
Day 11 of the Milano Cortina 2026 Winter Olympics delivered decisive performances, medal celebrations and emotional tributes as the Games moved deeper into their final stages.
The Kremlin has sought to lower expectations ahead of the latest round of Ukraine peace talks in Geneva, saying no announcements should be expected on Tuesday as negotiations continue behind closed doors.
Bangladesh Nationalist Party (BNP) leader Tarique Rahman was sworn in as prime minister on Tuesday (17 February), marking an important political shift in the South Asian nation following a period of turmoil.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment