First Major Sale Completed Under New US‑Venezuela Oil Agreement
The United States has completed its first sale of Venezuelan oil valued at about $500 million, US officials confirmed on Wednesday. The sale is part of a broader energy agreement struck earlier this month between Washington and Caracas. The deal allows the US to sell Venezuelan crude on the global market under Washington’s supervision.
Revenue from the initial sale is being held in bank accounts controlled by the US government. According to sources familiar with the plan, the main account is located in Qatar, a neutral location that allows funds to move with US approval and without risk of seizure.
US Energy Secretary Chris Wright said more oil sales are expected in the coming days and weeks. The overall deal could involve 30 million to 50 million barrels of Venezuelan crude handed over to the United States in the next phase. At current market prices, this future oil transfer is estimated to be worth approximately $2.8 billion.
The US government is directly overseeing the sale process, ensuring transparency and control over all transactions. Officials said the proceeds from oil sales will be deposited into accounts under US oversight, rather than flowing through traditional Venezuelan state channels.
Strategic Goals and Energy Sector Support
The Trump administration has described the oil agreement as a historic energy deal that benefits both nations. A White House spokesperson said the arrangement is expected to support Venezuela’s economic recovery while providing American markets with additional crude supply.
President Donald Trump has actively promoted the deal as a strategic partnership. In a statement on social media, he said he had a “very good” conversation with Venezuela’s interim president, Delcy Rodríguez. The two leaders discussed oil, trade, national security, and mineral resources. Trump said the initiative aims to stabilise Venezuela’s energy sector and economies on both sides.
The US effort seeks to help revive Venezuela’s oil infrastructure, which has suffered years of underinvestment and sanctions. The administration also hopes the agreement will create jobs and attract investment from major energy companies willing to participate.
Officials emphasise that the US role is not just a transactional arrangement. Rather, it is part of a larger plan to support long-term stability in the Western Hemisphere. Trump expressed optimism that Venezuela could once again become a prosperous nation with improved economic and energy prospects.
Global Market Impact and Future Sales
The oil being sold under the agreement is already making an impact in global markets. Major commodities trading firms are being allowed to participate in selling Venezuelan crude to refiners in India and China for March deliveries, a sign that Venezuelan oil is returning to international trade after years of sanctions and production decline.
Industry sources also report that Venezuelan crude is being offered at competitive pricing, at times trading at a narrower discount compared to Canadian heavy oils in the US Gulf Coast market. This pricing shift could benefit American refiners seeking alternative heavy crude supplies.
The United States’ first $500 million oil sale marks a notable milestone in the relationship between the two countries. Additional sales and cooperation in the energy sector are expected to shape global oil flows in the coming months. As the deal progresses, stakeholders will be watching how the arrangement affects both Venezuelan recovery efforts and international energy markets.
