Trump says Venezuela to ship 30 to 50 million barrels oil to US

US President Donald Trump says Venezuela’s interim authorities would ship between 30 million and 50 million barrels of oil to the United States, with the proceeds to be "controlled" by him in his capacity as president.

He said that the oil would be sold at prevailing market rates and that the revenue would be managed by the US administration to benefit both Venezuela and the United States.

Trump also reiterated his demand that interim President Delcy Rodriguez grant the United States and private firms full access to Venezuela’s oil sector.

Venezuela currently has millions of barrels of crude stored in tanks and loaded on ships that it has been unable to export due to a US-imposed blockade that has been in place since mid-December. The export restrictions were part of Washington’s escalating pressure on the government of President Nicolas Maduro.

Tweet by The White House

That pressure intensified over the weekend when US forces carried out what Trump described as a large-scale military strike in Venezuela and detained Maduro.

Senior Venezuelan officials have accused Washington of attempting to seize control of the country’s extensive oil resources.

In a post on social media, Trump said the sanctioned oil would be transferred to the United States and transported directly from tankers to American ports.

He said US Energy Secretary Chris Wright had been tasked with implementing the arrangement and overseeing the transfer of the oil.