The United States will indefinitely oversee Venezuela’s oil sales, according to US Energy Minister Chris Wright. Speaking at the Goldman Sachs Energy Event in Miami on Wednesday, Wright said that both Venezuela’s stored oil and future production will be sold on the international market under US management. The plan aims to regulate the country’s oil exports and ensure oversight of revenues.

AFP reported from Washington that former President Donald Trump had earlier announced Venezuela’s interim government would assign the marketing of 30 to 50 million barrels of crude oil to the United States. Trump said on social media that proceeds from the sale of this sanctioned but high-quality oil would be held under US supervision. The initiative is intended to restore international oil flow, secure supply for American refineries, and maintain funds in a US-controlled account for future mutual benefit.

US Defense Minister Pete Hegseth stated that the blockade on Venezuela’s sanctioned oil remains globally enforced. After US forces seized several tankers in the Caribbean and North Atlantic, he confirmed that the US stance against illegal Venezuelan oil trade is being strictly implemented worldwide.