President Donald Trump announced on Tuesday that interim authorities in Venezuela will transfer between 30 million and 50 million barrels of high-quality, sanctioned oil to the United States.

In a social media post, Trump stated: "I am pleased to announce that the Interim Authorities in Venezuela will be turning over between 30 and 50 MILLION Barrels of High Quality, Sanctioned Oil, to the United States of America." He added that the oil will be sold at market prices, with the proceeds controlled by the U.S. to "ensure it is used to benefit the people of Venezuela and the United States."

Trump directed Energy Secretary Chris Wright to execute the plan immediately, specifying that the oil will be transported via storage ships directly to U.S. unloading docks.

The announcement follows a U.S. military operation that captured Venezuelan leader Nicolás Maduro and his wife, Cilia Flores, in Caracas three days ago. The couple was extradited to New York, where they face federal drug-trafficking charges and have pleaded not guilty.

Trump also indicated plans for major U.S. oil companies, including Chevron, ConocoPhillips, and Exxon Mobil, to invest billions in rehabilitating Venezuela's oil infrastructure. A White House meeting with representatives from these firms is scheduled for later this week.

Venezuela holds the world's largest proven oil reserves, but production has declined sharply in recent years due to sanctions, mismanagement, and underinvestment. The transfer of this oil volume represents roughly two months of the country's recent daily output. Analysts note that fully restoring Venezuela's oil sector could take years and require tens of billions in investment.