Trump Venezuela Oil Plan

Benzinga

President Donald Trump said Venezuela will use proceeds from oil sold to the U.S. to purchase only American-made products, including U.S. agricultural goods, medicines, medical devices and equipment, reinforcing stronger commercial ties as part of the oil revenue deal,

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02President Donald Trump said Wednesday that Venezuela will use revenue from its oil sales

00:07to purchase only American-made products, according to CNBC. In a post on Truth Social,

00:13Trump said the purchases will include agricultural goods, medicine, medical devices,

00:17and equipment to improve Venezuela's electric grid and energy facilities.

00:22Trump said Tuesday that Venezuela would transfer 30 million to 50 million barrels of oil to the

00:27United States following the overthrow of President Nicolas Maduro. The oil will be sold at market

00:33prices, Trump said, with total sales exceeding $2 billion based on Wednesday's closing price.

00:39Energy Secretary Chris Wright said the United States will control Venezuela's oil sales indefinitely

00:44with proceeds deposited into U.S.-controlled accounts.

00:48For all things money, visit Benzinga.com.

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