U.S. Agrees to Acquire and Directly Sell Venezuelan Crude...Rubio Calls It "Leverage for Change"

Up to 50 Million Barrels to Be Sold at Market Price Despite Sanctions
Proceeds to Be Used for Venezuelan People
U.S. Secretary of State Outlines Three-Phase Venezuela Initiative

The Donald Trump administration has reached an agreement with the Venezuelan side to directly acquire Venezuelan crude oil, which has been blocked from export due to U.S. sanctions, sell it on the international market, and use the proceeds under U.S. government control for the benefit of the Venezuelan people.

Photo by Reuters Yonhap News Agency, US Secretary of State Marco Rubio.

On January 7 (local time), U.S. Secretary of State Marco Rubio announced at the U.S. Capitol in Washington, D.C., that such an agreement had been reached with the Venezuelan government. He stated that the United States would acquire 30 to 50 million barrels of Venezuelan crude oil and sell it at market prices, not at the discounted rates caused by sanctions.

Secretary Rubio explained that the United States would exercise full control over the distribution of the oil sale proceeds to ensure they are used for the Venezuelan people rather than the regime. He described this measure as "the most powerful leverage" to induce change in Venezuela and said U.S. policy toward Venezuela would proceed in three phases: stabilization, recovery, and transition. He added that the recovery phase would include fair market access for Western companies and reconciliation measures such as pardons and the return of opposition figures.

Chris Wright, Secretary of Energy, who oversees energy policy, also stated on the same day that the United States would sell Venezuelan crude oil on the market "indefinitely," and that by controlling both the oil and cash flow, the U.S. could drive the changes needed in Venezuela.

The U.S. policy of controlling the sale of Venezuelan crude oil was previously revealed through remarks by President Trump. The day before, on his self-created social networking service, Truth Social, he announced, "The Venezuelan interim government has agreed to deliver 30 to 50 million barrels of high-quality crude oil, previously subject to sanctions, to the United States." He added that the proceeds from the sales would be kept under presidential control and used for the benefit of both the Venezuelan and American people.

The White House subsequently provided additional clarification. White House spokesperson Caroline Levitt stated that Venezuelan crude oil would soon arrive in the United States and be sold on the international market. She explained that the proceeds from the oil sales would be settled into U.S. government-controlled accounts at internationally recognized banks, ensuring legitimacy and transparency.

However, it remains unclear on what legal grounds the United States is exercising control over the sale of Venezuelan crude oil. President Trump is scheduled to meet with major oil company executives at the White House on January 9 regarding this matter.