Venezuela Commits to Buying American Goods in Oil Deal: Trump

U.S. President Donald Trump announced Wednesday that Venezuela has committed to buying exclusively American-made products with revenues from a newly created oil agreement with the United States.

The arrangement, detailed by Trump on his social media platform Truth Social, represents a significant step in bilateral economic links following the capture of Venezuelan leader Nicolás Maduro, who is now facing federal drug trafficking charges in New York City.

“I have just been informed that Venezuela is going to be purchasing ONLY American Made Products, with the money they receive from our new Oil Deal,” he posted. “These purchases will include, among other things, American Agricultural Products, and American Made Medicines, Medical Devices, and Equipment to improve Venezuela’s Electric Grid and Energy Facilities. In other words, Venezuela is committing to doing business with the United States of America as their principal partner—A wise choice, and a very good thing for the people of Venezuela, and the United States.”

The declaration comes after U.S. forces captured Maduro in Caracas on Jan. 3. The ousted leader appeared in a U.S. court thereafter, where he pleaded not guilty to drug trafficking charges. His removal led Vice President Delcy Rodriguez to take over temporary leadership, who was sworn in with the U.S. claiming oversight of her government.

Venezuela’s oil sector holds the world’s largest proven reserves but has been mismanaged, corrupted, and financially neglected for years under the Maduro regime. Production plummeted from more than 3 million barrels per day in the early 2000s to fewer than 1 million recently.

Trump’s administration plans to incentivize U.S. oil companies to invest capital, technology, and expertise to grow operations. The president believes the country could reach full production in 18 months, allowing the United States to extract “a tremendous amount of wealth out of the ground” to fund reconstruction of infrastructure in the country.

Venezuela has already agreed to transfer 30 to 50 million barrels of sanctioned oil to the United States, which is valued at up to $2.8 billion at present-day prices of about $56 per barrel.

Trump announced the deal on Truth Social, noting the proceeds would be controlled by him to benefit both nations.

“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 of Venezuela and the United States!”

Energy Secretary Chris Wright confirmed the United States would oversee all revenue from Venezuelan oil sales “indefinitely.”

Wright has been tapped to execute a three-part plan, as Trump has underscored that the United States is not at war with Venezuela but committed to a “safe, proper, and judicious” transition, including future elections.

Venezuelan opposition leader María Corina Machado celebrated Maduro’s capture and expressed hope for U.S.-spearheaded rebuilding. Markets reacted positively, as U.S. oil stocks rose amid investors’ anticipation of increased production. America’s largest Venezuelan community in Doral, Florida, also hailed Trump’s actions in Venezuela.

Trump’s national security team, including Vice President JD Vance and Secretary of State Marco Rubio, is overseeing the policy, focusing on external pressure, and not occupation.