Statement on supposed agreement with Venezuelan government follows Trump’s threats of further military intervention
Opening summary
Donald Trump has said Venezuela will be “turning over” $2bn worth of Venezuelan crude to the United States, a flagship negotiation that would divert supplies from China while helping Venezuela avoid deeper oil production cuts.
Trump said in a post online:
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!
Venezuelan government officials and state company PDVSA did not provide comment.
Venezuela has millions of barrels of oil loaded on tankers and in storage tanks that it has been unable to ship due to the blockade imposed by Trump, as part of the pressure campaign that culminated in the toppling of Nicolás Maduro who was seized from his country by US forces over the weekend.
Top Venezuelan officials have called Maduro’s capture a kidnapping and accused the US of trying to steal the country’s vast oil reserves, however Tuesday’s supposed agreement is a strong sign that the government is responding to Trump’s demand that they open up to US oil companies or risk more military intervention.
