President Donald Trump Venezuela announced on Wednesday that it will buy US products with the proceeds of oil sales.
“I was just informed that Venezuela will only buy American products with the money they receive from our new oil deal,” Trump said on his social media platform. Social reality.
The purchases include agricultural products, medicine, medical devices and equipment to improve Venezuela’s power grids and energy facilities, the president said.
Trump said Tuesday that he would give the United States 30 million to 50 million barrels of oil after the ouster of Venezuelan President Nicolas Maduro. Oil will be sold at market prices, the president said. If the sales go through, oil would be worth more than $2 billion at Wednesday’s closing price.
On Wednesday, Energy Secretary Chris Wright said the U.S. would Controls Venezuela’s oil sales indefinitely.
“We’re going to put the crude oil coming out of Venezuela into the market — first that reserve oil, and then we’re going to sell the product out of Venezuela into the market indefinitely,” Wright said at Goldman Sachs’ annual energy conference in Miami.
“We need to have that kind of leverage and control over oil sales to manage the changes that need to happen in Venezuela,” the energy minister said.
Proceeds from the sale will be deposited into US escrow accounts, Wright said.