Washington/Caracas: US President Donald Trump has announced that the United States will receive between 30 million and 50 million barrels of oil from Venezuela at prevailing market rates, a move that comes in the wake of dramatic developments following a US military operation targeting Venezuelan leader Nicolás Maduro.
In a post on his social media platform Truth Social, Trump said the oil would be supplied by what he described as Venezuela’s “Interim Authorities” and transported directly to American ports using storage vessels. He added that the proceeds from the transaction would be overseen by him as president and directed toward what he termed the interests of both the American and Venezuelan people.
The announcement followed statements from officials in Caracas confirming that at least 24 Venezuelan security personnel were killed during a late-night US-led operation aimed at capturing Maduro and bringing him to the United States to face long-standing drug trafficking charges. Venezuelan authorities later indicated that the overall death toll from the raid could be higher.
Separately, the White House is preparing to host senior executives from major US energy companies for discussions on Venezuela. According to a person familiar with the plans, representatives from Exxon, Chevron and ConocoPhillips are expected to attend a meeting at the Oval Office later this week.
Trump has made it clear that his administration intends to take direct charge of US policy toward Venezuela, pressing the country’s leadership to open its vast oil reserves to American firms. Earlier this week, he issued a warning to Venezuela’s acting president, Delcy Rodríguez, suggesting she could face severe consequences if she failed to align the country with US priorities.
Rodríguez rejected the warning in a public address, saying her future was not determined by foreign threats. “My destiny is not decided by them, but by God,” she said while speaking to officials from Venezuela’s agricultural and industrial sectors.
Venezuela’s Attorney General, Tarek William Saab, said prosecutors would investigate the deaths linked to the raid, which he described as a possible war crime. He stated that dozens of security officers and civilians had been killed, though he did not provide a precise breakdown.
The fallout from the operation has extended beyond Venezuela. Cuba confirmed that 32 of its military and police personnel stationed in Venezuela were also killed. Meanwhile, the Pentagon said seven US service members were injured during the mission, including from gunfire and shrapnel. Five have since returned to duty, while two remain under medical care.
In Caracas, the military released a tribute video honouring fallen personnel, showing images of soldiers, damaged armoured vehicles and aircraft flying overhead. After days of deserted streets, large crowds briefly gathered in the capital for a state-backed rally, waving national flags and playing patriotic music.
“Their blood calls not for revenge, but for justice and resilience,” the Venezuelan military said in a social media post, vowing to dismantle foreign-backed groups and defend national sovereignty.
Back in Washington, Trump responded sharply to criticism from Democratic leaders over the operation. Speaking at a House Republican retreat, he argued that opposition figures had themselves supported efforts to arrest Maduro in the past and should acknowledge what he described as a successful mission.
Maduro was indicted in the United States in 2020 on charges related to narcotics trafficking. In recent years, both Democratic and Republican administrations have increased financial rewards for information leading to his arrest, with the Trump administration raising the bounty to USD 50 million last August.
With oil prices hovering around USD 56 per barrel, the deal outlined by Trump could be valued at up to USD 2.8 billion. While significant, the volume would amount to only a few days’ worth of US oil consumption, based on data from the Energy Information Administration.
