The United States has sold nearly $500 million worth of Venezuelan oil on the international market, US officials confirmed, marking the first phase of a new energy arrangement with Venezuela’s interim authorities.
Under the deal, Venezuela will transfer an additional 30-50 million barrels of crude to Washington in the next phase, significantly expanding the scope of the agreement.
US Energy Secretary Chris Wright said the oil expected to move to the United States carries a current market value of about $2.8 billion. He confirmed that the US government is directly managing the process, including oil sales and revenue handling.
Wright said Washington is depositing proceeds from the sales into accounts under US control. He added that additional Venezuelan oil sales will occur in the coming days and weeks.
The US has completed its first sale of Venezuelan oil, valued at $500 million, according to an administration officialhttps://t.co/WNFUTG7vAS
— CNN (@CNN) January 15, 2026According to Wright, the initiative aims to support Venezuela’s economic recovery and help stabilise its energy sector after years of disruption.
A White House spokesperson said President Donald Trump personally brokered what officials described as a historic energy agreement. The administration expects the deal to deliver economic benefits for both countries.
US media reports note that Venezuela holds the world’s largest proven oil reserves, estimated at nearly 300 billion barrels, making the partnership strategically significant for global energy markets.
In a post on his social media platform, Truth Social, Trump said he had a “very good” conversation with Venezuela’s interim president, Delcy Rodríguez. He said they discussed oil, minerals, trade, and national security.
Trump said the United States is making strong progress in helping stabilise Venezuela and support its recovery. He expressed confidence that the partnership would benefit both sides.
He added that he believes Venezuela can soon return to prosperity and may emerge stronger than before.
