U.S. unveils plans to control Venezuela’s oil sales ‘indefinitely’

The U.S. Department of Energy said on Wednesday (January 7, 2026) it has begun marketing Venezuelan crude in the global market and plans to control the sales of the South American country’s oil ‘indefinitely”, a day after President Donald Trump claimed that Caracas would “turn over” up to 50 million barrels of oil to the United States.

“We have engaged the world’s leading commodity marketers and key banks to execute and provide financial support for these crude oil and crude products sales,” the Department said in a fact sheet.

The U.S. attacked Venezuela on January 3 and captured its President Nicolas Maduro, who is currently in the U.S. facing charges of narcoterrorism. Mr. Trump claimed on Tuesday that 30 to 50 million barrels of Venezuelan oil would be taken by storage ships, and brought directly to unloading docks in the U.S. He said he has authorised Energy Secretary Chris Wright to execute the plan.

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“We’re going to market the crude coming out of Venezuela — first this backed up, stored oil, and then indefinitely, going forward, we will sell the production that comes out of Venezuela into the marketplace,” Mr. Wright said at a Goldman Sachs conference in Miami.

According to the fact sheet, Mr. Wright and the Department of Energy are “working with the Interim Venezuelan Authorities and private industry to execute this deal”. It said proceeds from the sale of Venezuelan crude oil and oil products would initially be kept in U.S.-controlled accounts before being disbursed “for the benefit of the American people and the Venezuelan people at the discretion of the U.S. government.”

“These oil sales begin immediately with the anticipated sale of approximately 30-50 million barrels. They will continue indefinitely,” added the Department.

Venezuela has the world’s largest proven oil reserves. The country, under tight American sanctions, is currently producing less than 1 million barrels of oil a day. The U.S. has also imposed a naval quarantine on Venezuela, squeezing the country’s ability to ship oil out using shadow tankers.

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In a social media post on Wednesday (January 7, 2026), Mr. Trump said Venezuela will purchase “only American made products” with the money the country receives from oils sales by the U.S. “These purchases will include American Agricultural Products, and American Made Medicines, Medical Devices, and Equipment to improve Venezuela’s Electric Grid and Energy Facilities. In other words, Venezuela is committing to doing business with the United States of America as their principal partner – A wise choice,” wrote Mr. Trump.

Venezuela’s interim government, led by former Vice-President Delcy Rodriguez, has sought cooperation with the U.S., without responding directly to Mr. Trump’s claims over Caracas sending oil to the U.S. Venezuela’s state-run oil company PDVSA said in a statement that it is in talks with the U.S. for the sale of oil “within the framework of the commercial relations” that exist between the two countries.

“This process is being carried out under schemes similar to those in place with international companies such as Chevron, and is based on a strictly commercial transaction, with criteria of legality, transparency, and mutual benefit for both parties,” said the company in the statement issued in Spanish, which has no reference to Mr. Maduro or U.S. sanctions.

The Department of Energy said the U.S. government “is selectively rolling back sanctions to enable the transport and sale of Venezuelan crude and oil products to global markets”. It also said the U.S. will authorise the import of oil field equipment to Venezuela to drive production growth. “This will involve technology, expertise, and investment from American and other international energy partners.”

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Meanwhile, the U.S. has escalated its pressure campaign on Venezuela by capturing two more tankers, which it said were linked to the country. The European Command of the U.S. said on social media that the vessel Bella 1 was seized in the North Atlantic for “violations of U.S. sanctions”.

The U.S. had been pursuing the tanker, which according to American media reports was being escorted by the Russian Navy, since last month. Homeland Security Secretary Kristi Noem announced via social media that U.S. forces also took control of the M Sophia in the Caribbean Sea. Both ships were “either last docked in Venezuela or en route to it,” Ms. Noem said.

Last month, the U.S. captured at least two other Venezuela-linked ships — the Skipper and the Centuries.

Published – January 08, 2026 12:46 pm IST