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Venezuela Oil Flows to U.S. ‘Forever,’ Trump Claims
Cheddar News
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2 days ago
President Trump said Venezuela will begin shipping sanctioned oil to the United States with an initial 30 million to 50 million barrels to be sold.
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00:00
President Trump said Venezuela will begin shipping sanctioned oil to the United States
00:04
with an initial 30 to 50 million barrels to be sold at market prices, saying he will control
00:10
the proceeds to benefit both countries.
00:13
U.S. officials told CNBC that this first tranche is just the beginning and that shipments will
00:18
continue indefinitely as sanctions are selectively rolled back to enable the sales.
00:23
The deal redirects oil that previously would have gone mostly to China and routes it to
00:28
the U.S. refineries with proceeds held in U.S. controlled accounts and released at U.S.' discretion.
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