RoydadNaft –  Venezuela will be “turning over” 30 to 50 million barrels of sanctioned oil to the United States, President Donald Trump said on Tuesday in the aftermath of the toppling of Nicolás Maduro, who was seized from his country by U.S. forces over the weekend.

“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 social media post.

The announcement comes amid a rapidly evolving situation in Venezuela after U.S. forces conducted a large-scale military strike on January 3, capturing Maduro and his wife, Cilia Flores, who are now in U.S. custody facing federal drug trafficking and narco-terrorism charges in New York. Maduro pleaded not guilty in court on Monday.

Interim authorities, led by acting President Delcy Rodríguez, appear to be cooperating with the transfer, which involves oil previously blocked by U.S. sanctions and a recent blockade on exports. The deal could redirect supplies away from China and ease pressure on Venezuela’s storage capacity, potentially preventing further production cuts.

The move underscores Trump’s focus on Venezuela’s vast oil reserves—the world’s largest—and his plans to involve U.S. companies in rebuilding the country’s decaying infrastructure. Oil prices dipped slightly following the news, with analysts noting increased supply prospects for the U.S. market.