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The Guardian - AU

World

Guardian staff and agencies

Venezuela ‘turning over’ $2bn in oil to US, Trump says, in move that could cut supply to China

Venezuela United States Donald Trump Oil

An oil tanker is seen off the coast of Venezuela. — Donald Trump has said Venezuela is ‘turning over’ millions of barrels of oil to the US. Photograph: Juan Carlos Hernández/Reuters

Donald Trump has said Venezuela will be “turning over” $2bn worth of Venezuelan crude to the United States, a flagship negotiation that would divert supplies from China while helping Venezuela avoid deeper oil production cuts.

“This Oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States!” Trump said in a post online.

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