Venezuela Will Use Oil Sale Revenues to Purchase Only U.S.-Made Goods - Trump

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U.S. President Donald Trump stated that Venezuela will use the money received from oil sales under the new agreement to purchase exclusively U.S.-made goods, LETA reports citing DPA.

“I was just informed that Venezuela will use the money it receives from our new oil agreement to purchase exclusively goods made in America,” Trump wrote on his social media platform Truth Social.

He noted that the purchases will include American agricultural products, medicines, medical equipment, as well as devices for modernizing Venezuela's energy sector.

“Venezuela is committed to doing business with the United States as its main partner,” Trump stated.

“A sensible choice, and it is very good for both the people of Venezuela and the United States,” he added.

Washington has decided to ease some sanctions against Venezuela to allow the transportation and sale of Venezuelan oil on the global market.

The U.S. Department of Energy announced on Wednesday that it will lift some restrictions, without specifying which sanctions will be lifted and when the changes will take effect.

Venezuela's state oil company PDVSA, in turn, stated that it has begun negotiations with the U.S. regarding the sale of Venezuelan oil.

It was previously reported that Washington plans to take control of further sales of Venezuelan oil following a U.S. military operation over the past weekend, during which authoritarian leader Nicolas Maduro was captured and brought to the U.S. to face charges of narco-terrorism.

U.S. Energy Secretary Chris Wright stated that the U.S. will sell Venezuelan oil “for an indefinite period,” starting with existing crude oil stocks and then with newly produced oil.

At an energy conference in Florida, Wright also said that the long-term goal is to fully restore the operations of the largest American energy companies in Venezuela.

This week, Trump announced that the interim government of Venezuela will transfer 30 to 50 million barrels of sanctioned oil to the U.S. It will be sold at market prices, and Trump will personally oversee the proceeds to ensure they are used “for the benefit of the peoples of Venezuela and the U.S.”

Oil exports are the main source of income for the Venezuelan government. In recent years, China has been the largest buyer of Venezuelan oil.