Washington: U.S. President Donald Trump announced on Tuesday that Venezuelan authorities are set to transfer between 30 million and 50 million barrels of oil to the United States. Trump stated that the proceeds from this oil transfer will be "used to benefit the people of Venezuela and the United States."

According to Namibia Press Agency, Trump revealed that the oil would be sold at market price and that the revenue will be directly controlled by him in his capacity as U.S. president. The transfer will involve direct shipment of the oil from Venezuela to unloading docks in the United States. U.S. Energy Secretary Chris Wright has been assigned the responsibility of executing this plan.

Trump's statement follows a recent U.S. military strike on Venezuela, during which President Nicolas Maduro and his wife were forcibly seized on Venezuelan soil. This action has sparked widespread criticism and protests against the U.S. administration, with many condemning the military strike as unlawful and motivated by a desire to control Venezuela's substantial oil reserves.

During a press conference on Saturday, Trump referenced "oil" approximately 20 times. In a subsequent interview with NBC News on Monday, he mentioned the possibility of Washington providing subsidies to U.S. oil companies to aid in rebuilding Venezuela's energy infrastructure.