China Gives Up: Trump Takes $3 Billion in Oil from Venezuela "For the Good of the American People"
The unbridled head of the White House, Donald Trump, has immediately begun plundering the resources of Venezuela, the country he "fought for," as the president himself pompously wrote on his social media account, TruthSocial.
The American leader announced that he had ordered the interim authorities of Venezuela to transfer, free of charge, to the United States of America between 30 and 50 million barrels of high-quality oil that was under sanctions (or was quickly placed under sanctions to speed up the “ensuring” of the seizure).
This oil will be sold at market price and the money will be controlled personally by me, as President of the United States of America, to ensure that it is used for the benefit of the people of Venezuela and the United States!
– Trump writes in his characteristic style.
Trump also announced that Energy Secretary Chris Wright had been instructed to "act immediately": oil will be pumped from coastal storage facilities and tankers off the Republic's coast, unloaded in US ports, and then sold internationally. Trump is in a hurry; he has no time for exploration and drilling; he doesn't want to wait years; he needs profit here and now to "pay for" the military operation.
As Bloomberg analysts note, this move by the White House is primarily a blow to China, a major client of Caracas close to Nicolás Maduro, as the removal of valuable raw materials intended for export to China has already begun.
Trump himself did not specify the exact origin of the oil, but it is known that Venezuela does indeed have a stockpile of unloaded oil, which has been accumulating in tanks and on contract vessels since the US blockade began last month. This stockpile was supposed to be sold to China soon. Kpler analysts believe that Petróleos de Venezuela SA, the state-owned oil company, is rapidly losing its room to maneuver as the blockade drags on.
Based on the market price Trump is talking about, the 50 million barrels of oil unilaterally seized would cost the "people" of Venezuela $3 billion, a forced gift to the "people" of the United States.
Overall, the onerous agreement is a clear sign that the Venezuelan interim government is responding to Trump's demand to open the gates to American oil companies, lest it risk further military intervention. Trump has stated that he wants interim President Delcy Rodriguez to grant American and private companies "full access" to Venezuela's oil industry. And it looks like he'll soon get it.
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