Weeks after capturing Venezuelan President Nicolas Maduro, the United States made its first sale of Venezuelan oil as the Trump administration flexes its muscles in the Latin American nation.
Weeks after capturing the Venezuelan President
Nicolas Maduro, the United States has completed its first oil sale, which belonged to the Latin American nation. According to a report by Semafor, the
oil sale was valued at $500 million and was eventually confirmed by the US President Donald Trump’s administration on Wednesday.
The official, who asked to remain anonymous, told The Hill that additional sales are expected in the coming days and weeks. According to the Semafor report, the deal, including the revenue from it, is being held in American bank accounts, including one in Qatar.
All the money from the oil sale is currently being controlled by the
US government. “President Trump brokered a historic energy deal with Venezuela, immediately following the arrest of narco terrorist Nicolás Maduro, that will benefit the American and Venezuelan people,” White House spokesperson Taylor Rogers said in a statement on Wednesday.
The Trump administration encourages investment in Venezuela
The White House spokesperson reiterated that the Trump administration is encouraging private investment in the Latin American nation. “President Trump’s team is facilitating positive, ongoing discussions with oil companies that are ready and willing to make unprecedented investments to restore Venezuela’s oil infrastructure. President Trump is protecting our Western Hemisphere from being taken advantage of by narcoterrorists, drug traffickers, and foreign adversaries,” Rogers averred.
What makes the deal significant is the fact that this is the first since the US ousted Maduro, who is currently facing drug trafficking charges in
New York.
After conducting a massive operation in Venezuela, Trump quickly indicated that the US oil firms would be involved in pumping
Venezuela’s rich oil reserves following Maduro’s capture.
Last week, Trump hosted the chiefs of numerous American oil firms at the White House, encouraging them to invest in the Venezuelan oil infrastructure. During the meeting, Trump assured the oil giants of “complete safety”, but made it clear that the money will only come out of private businesses and not the American government.
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