US says it will control Venezuela's oil sales ‘indefinitely'
The United States says it will control sales of Venezuelan oil 'indefinitely' and decide how the proceeds of those sales are used, as President Donald Trump’s administration consolidates control over the South American country after abducting its president.
The US Department of Energy said on Wednesday that it had 'begun marketing' Venezuelan oil on global markets and all proceeds from the sales 'will first settle in US-controlled accounts at globally recognized banks'.
'These funds will be disbursed for the benefit of the American people and the Venezuelan people at the discretion of the US government,' it said.
'These oil sales begin immediately with the anticipated sale of approximately 30-50 million barrels. They will continue indefinitely.'
In the hours afterwards, Trump himself weighed in on how the proceeds might be spent, suggesting that Venezuela had agreed to use its funds to buy products solely from the US.
'I have just been informed that Venezuela is going to be purchasing ONLY American Made Products, with the money they receive from our new Oil Deal,' Trump wrote on his platform, Truth Social.
'These purchases will include, among other things, American Agricultural Products, and American Made Medicines, Medical Devices, and Equipment to improve Venezuela’s Electric Grid and Energy Facilities.'
The announcement comes just days after the Trump administration abducted Venezuelan President Nicolas Maduro on Saturday in what legal experts say was a clear violation of international law.
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