US to Maintain Control Over Venezuelan Oil Sales Indefinitely
US Energy Secretary's Announcement
On Wednesday, Chris Wright, the Energy Secretary of the United States, declared that the nation will indefinitely oversee the sales of Venezuelan oil that is under sanctions, as reported by a major news outlet.
This announcement followed President Donald Trump's statement the previous day, where he mentioned that the US would acquire up to 50 million barrels of oil from Venezuela.
In a recent military operation, the US reportedly detained Venezuelan President Nicolás Maduro and his spouse, Cilia Flores.
The US government has accused Maduro of engaging in narco-terrorism and drug trafficking, charges that the Venezuelan administration vehemently denies. Caracas has labeled the US actions as 'military aggression' and is demanding the immediate release of Maduro and Flores.
Despite having the largest proven oil reserves globally, Venezuela does not rank among the top ten oil producers.
Since 2019, Venezuela's oil production and exports have faced severe restrictions due to sanctions imposed by Trump during his first term. These restrictions intensified in December when Trump ordered a blockade on sanctioned oil tankers associated with Venezuela.
In light of these developments, Wright stated at a conference that the US would be selling Venezuelan oil production in the marketplace moving forward.
He emphasized the need for the US to maintain control over these oil sales to facilitate necessary changes in Venezuela, although it remains unclear how much revenue from these sales would be shared with the Venezuelan government.
Trump also mentioned that Venezuela would only purchase American-made products with the funds from this new oil deal, calling it a beneficial arrangement for both nations.
"Venezuela is going to be purchasing ONLY American Made Products, with the money they receive from our new Oil Deal... A wise choice, and a very good thing for the people of Venezuela, and the United States." - President Donald J. Trump 🇺🇸 pic.twitter.com/0pvM6QVa0L
— The White House (@WhiteHouse) January 7, 2026
The Venezuelan state oil company confirmed on Wednesday that discussions with the US government were ongoing, but did not confirm any finalized agreements.
In December, Trump had expressed a desire to reclaim oil he claimed was taken by Venezuela, although it is unclear what specific oil he was referencing, given that Venezuela nationalized its oil and gas sector in the 1970s.