Trump Claims U.S. Will Seize Up to 50 Million Barrels of Venezuelan Oil
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President Donald Trump says Venezuela will hand over 30 to 50 million barrels of its oil to the United States. The announcement comes as Venezuela faces a U.S. blockade on its oil exports.
The U.S. government imposed the blockade in mid-December. Venezuela is now trying to avoid major cuts to its oil production.
Trump stated the seized oil will be sold at market price. He said the money will be under his control.
"This money will be used to benefit the people of Venezuela and the United States!" Trump wrote in an online post.
The oil is currently under international sanctions. This means it is illegal for most countries to buy it.