Venezuela To Buy Only U.S. Made Goods Under Oil Agreement — Trump President Donald Trump has announced that Venezuela will use proceeds from its oil sales to purchase only goods made in the United States under a new oil arrangement between both countries.

President Donald Trump has announced that Venezuela will use proceeds from its oil sales to purchase only goods made in the United States under a new oil arrangement between both countries.

In a statement shared on Wednesday via his Truth Social platform, Trump said he had been informed that Venezuela agreed to spend revenue from the deal exclusively on American products. He noted that the purchases would cover key areas such as agricultural produce, medicines, medical equipment, and materials needed to upgrade the country’s electricity grid and energy infrastructure.

Earlier on Tuesday, Trump disclosed that Venezuela would hand over between 30 million and 50 million barrels of oil to the United States following the removal of President Nicolás Maduro. He explained that the oil would be sold at prevailing market prices, estimating that the total value could exceed $2 billion based on Wednesday’s closing price.

U.S. Energy Secretary Chris Wright further clarified that the United States would oversee Venezuela’s oil sales on a long-term basis. According to him, the U.S. will handle the marketing of stored crude as well as future oil production, selling it into the global market.

Wright said the proceeds from these sales would be paid into U.S.-controlled accounts as a means of maintaining leverage and ensuring political and economic reforms in Venezuela. He stressed that while the U.S. would not take ownership of the oil itself, the funds generated would ultimately be returned to Venezuela.