United States President Donald Trump has said that Venezuela will use the proceeds from its exclusive oil deal to buy only American products.
Gatekeepers News reports that in a Truth Social post late Wednesday, Trump said, “These purchases will include, among other things, American Agricultural Products, and American Made Medicines, Medical Devices, and Equipment to improve Venezuela’s Electric Grid and Energy Facilities.”
The deal, which involves selling Venezuelan heavy crude oil to the US, was set as a condition by Trump on the interim Venezuelan government following President Nicolas Maduro’s capture.
Trump also called on Venezuela to end economic ties with China, Cuba, Russia, and Iran. In the post, he added, “A wise choice, and a very good thing for the people of Venezuela, and the United States.”
While Venezuela holds the world’s largest heavy‑oil deposits, most US oil output is light crude, and only a few American refineries are equipped to process heavy crude into gasoline, diesel, and other essential products, making Venezuelan oil a key supply. Other heavy crude sources for the US include Canada and Mexico.
According to reports, US Secretary of State Marco Rubio told lawmakers in a private briefing that the US can influence Venezuela because its oil tankers are full, and Caracas may face insolvency in a matter of weeks.
Relations between the two countries had been strained for years, with sanctions limiting Venezuela’s access to global markets and the materials needed for heavy crude production.
