Washington DC [US], January 7 : The United States on Wednesday announced a major energy initiative with Venezuela following its military operations last week, rolling back select sanctions to market Venezuelan crude oil globally while stabilising the South American nation's energy sector.
The move, framed by the Trump administration as a 'historic deal', aims to safeguard American interests, restore Venezuela's energy production, and generate revenue for both countries.
In a Fact Sheet released by the US Department of Energy, the administration highlighted that all proceeds from the sale of Venezuelan crude and oil products will initially be deposited in US-controlled accounts at globally recognised banks, ensuring transparency and proper distribution for the benefit of both American and Venezuelan citizens.
The deal is expected to begin with the sale of approximately 30 to 50 million barrels of oil, with further sales to continue indefinitely.
According to the fact sheet, the US will also supply diluent (light crude oil) to Venezuela to upgrade its very heavy crude and facilitate transport and sales.
Additionally, select oilfield equipment, parts, and services will be imported to offset decades of underinvestment and decline, modernise production, and support near-term growth in Venezuela's oil sector.
"The only oil transported in and out of Venezuela will be through legitimate and authorised channels consistent with U.S. law and national security. The United States is selectively rolling back sanctions to enable the transport and sale of Venezuelan crude and oil products to global markets," the factsheet stated.
US Secretary of Energy Chris Wright said the initiative will focus on crude oil stored in onshore and offshore facilities, as well as ongoing production.
"We're working directly in cooperation with the Venezuelans. We're going to market the crude coming out of Venezuela. As we make progress with the government, we'll enable the importing of parts, equipment, and services to prevent the industry from collapsing, stabilise production, and, in the long run, create conditions for major American companies to invest," Wright said.
The energy deal follows the apprehension of Venezuelan leader Nicolas Maduro on January 3, 2026, and is part of the Trump administration's broader strategy to restore "prosperity, safety, and security" across the Western Hemisphere.
This announcement comes amid growing geopolitical tension over Venezuela following the US's "large-scale strike" and the capture of its former President, Nicolas Maduro, and his wife on Saturday.
Maduro and Flores were captured in Caracas and flown out of the country in a joint operation involving intelligence agencies and US law enforcement.
They were indicted on charges of alleged "drug trafficking and narco-terrorism conspiracies" in the Southern District of New York and are currently facing trial.
Meanwhile, on Tuesday, US President Donald Trump stated that the interim authorities in Venezuela would turn over between 30 and 50 million barrels of sanctioned oil to the United States and noted that while the oil will be sold at its market price, the money will be controlled by Trump to ensure it is used to benefit the people of Venezuela and the United States.