WASHINGTON: In a significant shift in energy policy, US President Donald Trump announced plans to import 30 to 50 million barrels of high-quality oil from Venezuela. The announcement was made via a social media statement on January 7, 2026.
President Trump declared that the Venezuelan oil would be sold in the United States at market prices. He stated his intention to control the revenues from the sale, directing them for the “benefit of the American and Venezuelan people.” Trump has already directed Energy Secretary Chris Wright to begin work on the project and facilitate the delivery of the crude to US ports.
This move marks a stark reversal of the long-standing US sanctions that have blocked Venezuelan oil imports since mid-December. The announcement follows earlier foreign media reports indicating that talks had been held between US and Venezuelan officials to resume oil exports, specifically targeting US refineries.
The development coincides with a planned visit by the heads of major US oil companies to the White House on Thursday. The agenda is expected to include discussions on potential investment opportunities in Venezuela’s energy sector following this policy shift.
Neither the White House nor Venezuelan officials have issued an official comment on the president’s announcement, leaving the specific operational and diplomatic details of the agreement unclear. The deal, however, signals a potential thaw in economic relations and a new approach to leveraging Venezuelan resources.
