President Donald Trump announced that Venezuela’s interim government will transfer 30-50 million barrels of high-quality, sanctioned oil to the US, worth approximately $2.8 billion. The oil will be sold at market price, with Trump controlling the proceeds to benefit both Venezuela and the US
The US has also seized a Russian-flagged oil tanker linked to Venezuela and another vessel in the Caribbean. Trump’s administration is working with oil executives to revive Venezuela’s oil industry, with Energy Secretary Chris Wright leading the effort
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