Trump unveils ‘30 to 50 Mn barrels’ Venezuela oil plan | Bid to choke supplies to top buyer China?

The United States and Venezuela reached an oil export deal following the capture of Nicolás Maduro, President Donald Trump announced on January 6. Under the agreement, Caracas will supply between 30 and 50 million barrels of sanctioned crude—worth about $2 billion—to the U.S., with Trump saying Washington will control the proceeds. The deal follows U.S. military strikes that led to Maduro’s capture and a naval blockade that crippled Venezuelan exports. Analysts say Caracas may comply to avoid further intervention. The shift is expected to divert oil away from China, Venezuela’s top buyer since U.S. sanctions were imposed in 2020.