The United States has announced that it will take control of Venezuela’s oil sales indefinitely and decide how the money from those sales is used, after US forces removed Venezuelan leader Nicolás Maduro from power.
The US Department of Energy said it has started selling Venezuelan oil on the global market, and all the money earned will be held in accounts controlled by the US government before being used for the benefit of both Americans and Venezuelans, according to Washington’s plans.
President Donald Trump said the sales will start immediately, with about 30 to 50 million barrels expected to be sold, and will continue without a set end date. He also suggested that Venezuela should use the proceeds to buy American-made products like agricultural goods, medicines and energy equipment.
The announcement follows the US seizure of Maduro, an action many legal experts view as violating international law, after the Trump administration accused him of drug trafficking. In the months before this, the US tightened pressure on Venezuela through a partial naval blockade and seized oil tankers allegedly involved in illegal shipments.
In Washington, Republican lawmakers have largely supported the action, while some Democrats have raised concerns about how long it might last, its cost, and the possible deployment of US forces. Senator Elizabeth Warren described the plan as worse than expected, questioning its legality and implications.
US Secretary of State Marco Rubio outlined a plan that includes ensuring oil revenue benefits Venezuelans, allowing US and international companies to operate in the country, and helping set the stage for future governance changes.
United Nations experts have warned that controlling Venezuela’s oil and resources could violate international law and the right to self-determination.
