United States President Donald Trump has announced that Venezuela will provide between 30 million and 50 million barrels of oil to the United States, pledging that proceeds from the sale will be used “to benefit the people” of both nations, as diplomatic and military tensions between Washington and Caracas continue to intensify.
Speaking on Tuesday, Trump said the oil arrangement comes as his administration pushes for sweeping changes in Venezuela’s struggling energy sector, including broader access for American oil companies. The White House is expected to host a high-level meeting on Friday with executives from major US energy firms, including ExxonMobil, Chevron and ConocoPhillips, to discuss Venezuela’s oil industry and future cooperation.
The announcement follows a dramatic US military operation over the weekend that led to the capture of Venezuela’s longtime leader, Nicolás Maduro, in Caracas. Venezuelan authorities said at least 24 security officers were killed during the overnight raid, while Cuba confirmed that 32 Cuban military and police personnel stationed in Venezuela also died.
Venezuela’s acting president, Delcy Rodríguez, rejected what she described as threats from Washington. Addressing officials from the agricultural and industrial sectors, she said her fate would not be dictated by the United States and vowed resistance to external pressure. Venezuela’s Attorney General, Tarek William Saab, said “dozens” of officers and civilians were killed during the operation and announced plans to investigate the deaths as a possible war crime.
The Pentagon confirmed that seven US service members were injured during the raid, including from gunshot and shrapnel wounds. Five have since returned to duty, while two remain in recovery.
If completed, the oil transfer could be worth up to 2.8 billion dollars at current prices. While Venezuela holds the world’s largest proven crude oil reserves, its production remains sharply reduced at around one million barrels per day, far below US output. Analysts note that the volume cited by Trump would amount to only a few days of US oil consumption but carries significant political weight.
The Venezuelan government has not officially commented on the oil announcement. Meanwhile, state-organized rallies in Caracas have drawn crowds expressing support for the government and denouncing US intervention.
Trump also defended the operation against domestic criticism, noting that the indictment of Maduro on drug trafficking charges dates back to 2020 and was pursued across administrations. Recent opinion polls show Americans divided over the use of military force to capture the Venezuelan leader, with a large majority opposing any US attempt to choose Venezuela’s future government.
Beyond Venezuela, Trump’s remarks and actions have triggered concern internationally. Colombia’s foreign minister announced plans to lodge a formal complaint with the US over recent threats, while several European leaders issued a joint statement defending Greenland’s sovereignty after renewed US rhetoric about a possible takeover.
Maduro has pleaded not guilty to US federal drug trafficking charges and remains in custody as legal proceedings continue.
