The United States has officially started selling Venezuelan oil on the global market. This move follows a major energy agreement between Washington and the interim government in Caracas. U.S. officials confirmed that the first sale of Venezuelan oil on global market platforms reached nearly $500 million.
This historic deal comes after the recent removal of Nicolás Maduro by U.S. forces. Currently, the U.S. government is overseeing all sales of Venezuelan crude. The proceeds from these transactions are being held in bank accounts controlled by Washington. One of these primary accounts is located in Qatar to ensure the funds remain secure.
Stabilizing Global Energy Markets
U.S. Energy Secretary Chris Wright stated that the government plans to continue these sales indefinitely. The goal is to stabilize energy prices and support Venezuela’s economic recovery. In the next phase, interim authorities are expected to hand over 30 million to 50 million more barrels. The total market value of this oil is estimated at $2.8 billion.
The U.S. is also working to fix Venezuela’s broken energy infrastructure. This will allow the country to utilize its massive reserves, which are the largest in the world. Experts believe that increasing the supply of Venezuelan oil on global market will help lower fuel costs for many nations.
This sudden increase in supply comes at a critical time, especially as global oil markets face uncertainty due to the ongoing Venezuela crisis and tightened US sanctions.”
A Historic Partnership
President Donald Trump described the arrangement as a historic agreement. He recently spoke with interim President Delcy Rodríguez about trade, minerals, and national security. Trump expressed confidence that this partnership will help Venezuela become a prosperous nation again.
The Venezuelan Oil Sale is not just about revenue. It is also a strategic move to integrate Venezuela back into the global economy. By controlling the “purse strings,” the U.S. intends to ensure the money benefits the Venezuelan people directly.
Impact on Global Trade
Major energy companies and traders are already seeking licenses to participate. This shift has captured the attention of markets worldwide, including in Pakistan. As a large oil importer, Pakistan monitors these developments closely due to their impact on international petrol prices.
This new era of energy diplomacy marks a significant change in how the U.S. manages foreign resources. For now, the world is watching to see how this steady flow of oil will reshape the global energy landscape.
