President Donald Trump has announced a new energy agreement between the United States and Venezuela, aimed at strengthening U.S. national security and supporting economic recovery in Venezuela. The announcement follows the recent apprehension of Venezuelan leader Nicolas Maduro by U.S. authorities on charges including narco-terrorism conspiracy.
According to the statement, Secretary Wright and the Department of Energy are collaborating with interim Venezuelan authorities and private industry partners to implement the terms of this agreement.
The deal involves the United States government marketing Venezuelan crude oil on global markets. Leading commodity marketers and major banks have been engaged to facilitate these transactions and provide financial support for sales of crude oil and related products. All proceeds from these sales will be held in U.S.-controlled accounts at recognized international banks, ensuring oversight over how funds are distributed.
“These funds will be disbursed for the benefit of the American people and the Venezuelan people at the discretion of the U.S. government,” according to President Trump’s statement. Initial sales are expected to include approximately 30–50 million barrels, with ongoing transactions planned for an indefinite period.
Oil exports from Venezuela will now occur only through authorized channels consistent with U.S. law and national security requirements. The United States is selectively easing certain sanctions to enable legitimate transport and sale of Venezuelan crude oil internationally.
To support production, U.S.-sourced diluent—light crude oil used to mix with Venezuela’s heavier grades—will be exported as needed. Additionally, authorization has been granted for select imports of oil field equipment, parts, and services into Venezuela in order to address years of declining output due to underinvestment.
Modernization efforts also extend beyond oil production infrastructure. The statement notes that “Venezuela’s electricity grid is dilapidated and fragile after years of socialist mismanagement, corruption, and poor maintenance.” Production nationwide has reportedly declined by more than 30 percent because of insufficient investment in operations and maintenance. Plans include working toward improvements in Venezuela’s electricity grid as a key step toward boosting both oil production capacity and overall quality of life for citizens.
The energy agreement is positioned as part of broader efforts by the United States government to restore prosperity, safety, and security across both countries while fostering stability throughout the Western Hemisphere.
