WASHINGTON: U.S. President Donald Trump announced Tuesday that Venezuela will supply 30 to 50 million barrels of oil to the United States at market prices, pledging that proceeds from the sale will benefit the people of both countries.
The announcement comes amid heightened tensions following a U.S. military operation in Caracas that captured Venezuelan President Nicolás Maduro.
The White House is scheduled to meet Friday with executives from Exxon, Chevron, and ConocoPhillips to discuss Venezuelan energy, as the Trump administration continues pressing Caracas to open its struggling oil industry to U.S. investment and expertise.
The operation in Venezuela’s capital earlier this week resulted in the deaths of at least 24 Venezuelan security officers and 32 Cuban personnel, according to the Cuban government. Seven U.S. service members were also injured, with five already returning to duty. Venezuela’s Attorney General Tarek William Saab described the strike as a “war crime” and said prosecutors would investigate.
Acting Venezuelan President Delcy Rodriguez rejected U.S. threats, stating, “Personally, to those who threaten me: My destiny is not determined by them, but by God.” The military also posted a tribute on Instagram, reaffirming loyalty to Maduro and pledging to dismantle what it described as terrorist groups operating from abroad.
Trump indicated that the oil deal, with prices around $56 per barrel, could be worth up to $2.8 billion, equivalent to roughly two and a half days of U.S. oil consumption. Despite holding the world’s largest proven crude reserves, Venezuela currently produces only about one million barrels per day, far below U.S. production.
The Trump administration has also highlighted past Democratic efforts, including by President Joe Biden, to indict Maduro on drug trafficking charges. Maduro pleaded not guilty to federal drug charges in a U.S. court Monday.
Public opinion in the U.S. is divided over the military action, according to a Washington Post/SSRS poll. About 40% approved of sending troops to capture Maduro, a similar share opposed it, and 20% remained unsure. Nearly half of Americans said Venezuela’s people, not the U.S., should determine the country’s leadership.
In response to Trump’s threats, Colombia’s Foreign Minister Rosa Villavicencio said she would formally present a complaint to the U.S. Embassy in Bogota. She emphasized cooperation with the U.S. on drug trafficking while defending Colombia’s sovereignty.
Meanwhile, European leaders and Denmark’s Prime Minister Mette Frederiksen jointly defended Greenland’s sovereignty after Trump renewed calls for U.S. acquisition of the island, asserting that “Greenland belongs to its people” and that decisions regarding the territory are Denmark’s alone.
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