Venezuela will hand over millions of barrels of oil to the US after the toppling of Nicolás Maduro, [Donald Trump](https://www.telegraph.co.uk/donald-trump/) has announced.
The US president said Caracas had agreed to supply up to 50 million barrels of “high quality, sanctioned oil” which would be “used to benefit the people of Venezuela and the United States”.
“I am pleased to announce that the Interim Authorities in Venezuela will be turning over between 30 and 50 MILLION Barrels of High Quality, Sanctioned Oil, to the United States of America,” the president wrote on his Truth Social platform.
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***The Telegraph reports:***
Venezuela will hand over millions of barrels of oil to the US after the toppling of Nicolás Maduro, [Donald Trump](https://www.telegraph.co.uk/donald-trump/) has announced.
The US president said Caracas had agreed to supply up to 50 million barrels of “high quality, sanctioned oil” which would be “used to benefit the people of Venezuela and the United States”.
Oil has been at the centre of discussions about [Venezuela’s post-Maduro future](https://www.telegraph.co.uk/world-news/2026/01/03/donald-trump-us-troops-captured-nicolas-maduro-venezuela/).
“I am pleased to announce that the Interim Authorities in Venezuela will be turning over between 30 and 50 MILLION Barrels of High Quality, Sanctioned Oil, to the United States of America,” the president wrote on his Truth Social platform.
“This Oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to [benefit the people](https://www.telegraph.co.uk/business/2026/01/06/trump-maga-pirates-venezuelan-plunder-is-almost-worthless/) of Venezuela and the United States!”
Mr Trump added that he had directed Chris Wright, the US energy secretary, to put the plan into effect immediately.
The oil “will be taken by storage ships, and brought directly to unloading docks in the United States”, he said.
On Saturday, just hours after Mr Maduro was seized from his compound by US special forces, Mr Trump said Venezuela would be [opened up to American oil giants](https://www.telegraph.co.uk/business/2026/01/04/shell-eyes-return-to-venezuela-to-claim-gas-billions/).
Mr Trump and top administration officials will meet with representatives of US oil companies on Friday at the White House to discuss [plans for them to enter the country](https://www.telegraph.co.uk/business/2026/01/05/venezuelan-oil-revival-will-take-a-decade-or-more/), Politico has reported.
**Read more:** [https://www.telegraph.co.uk/us/politics/2026/01/07/trump-venezuela-sanctioned-oil-maduro-united-states/](https://www.telegraph.co.uk/us/politics/2026/01/07/trump-venezuela-sanctioned-oil-maduro-united-states/)
My gas prices better go down by at least 4 cents pal.