The United States has officially completed its first sale of Venezuelan oil, a move that marks a significant shift in the management of this vital sector since Washington assumed control following the recent political developments in Caracas that led to the arrest of President Nicolás Maduro. A US official told AFP that this transaction represents a major change in the management of Venezuelan resources.
Details of the historic deal
The official source, who preferred to remain anonymous, explained that the completed transaction was valued at $500 million. He indicated that this is just the beginning, with further sales expected in the coming days or weeks, suggesting a steady flow of Venezuelan oil to global markets under direct US supervision.
New energy agreement and revenue management
In a related development, White House spokeswoman Taylor Rogers stated that President Donald Trump reached a "historic agreement" with the new Venezuelan authorities regarding the energy sector immediately after Maduro's arrest. Rogers emphasized that this agreement was designed to be mutually beneficial to both the American and Venezuelan people, putting an end to years of economic stagnation.
President Trump had previously revealed that the interim authorities in Venezuela would deliver between 30 and 50 million barrels of high-quality oil, previously subject to strict sanctions, to the United States. Explaining the financial mechanism, Trump added, "This oil will be sold at market price, and I, as President of the United States, will manage those funds to ensure they are used for the benefit of the people of both Venezuela and the United States." He noted that the proceeds would be primarily used to purchase American products, thus strengthening the economic relationship between the two countries.
Background of the conflict and the importance of Venezuelan oil
This move is of major strategic importance given Venezuela's position in the global energy market, as the country possesses the world's largest proven oil reserves. For years, Venezuela's oil sector has suffered from deteriorating infrastructure and international sanctions that have limited its export capacity, leading to severe economic crises within Venezuela.
Expected economic and geopolitical impacts
Observers believe that US control over Venezuelan oil sales and its reintroduction into the market could contribute to stabilizing global energy prices, particularly for US refineries that rely on Venezuelan heavy crude. Furthermore, directing the proceeds toward purchasing US products establishes a new pattern of economic relations, where oil revenues are converted into goods and services rather than direct cash. This could ensure that aid and essential goods reach the Venezuelan people under strict oversight and prevent the funds from being diverted to unauthorized channels.
