Donald Trump stated that Venezuela would be turning over $2 billion worth of Venezuelan crude to the United States, a move that could significantly alter global oil supply routes and potentially reduce supply to China. The former president announced the purported deal online, characterizing it as a flagship negotiation.

Trump stated that the oil would be sold at its market price, and the proceeds would be controlled by him, as President of the United States, to ensure the money benefits the people of Venezuela and the United States. Venezuelan government officials and state oil company PDVSA have not yet commented on the announcement.

The alleged agreement comes after Trump's previous demands that Venezuela open up to US oil companies or risk further military intervention. Trump also claimed that US companies would invest billions in Venezuelan oil production. However, experts have expressed skepticism about the feasibility and implications of such investments.

Venezuela holds vast oil reserves, but its production has been hampered by years of economic crisis, political instability, and US sanctions. The country has millions of barrels of oil already loaded and ready for export. A shift in Venezuelan oil exports towards the US could have significant geopolitical consequences, particularly for China, which has been a major importer of Venezuelan crude.

The situation remains fluid, and the lack of confirmation from Venezuelan authorities raises questions about the details and enforceability of the deal. The potential for US companies to invest in Venezuelan oil production is also uncertain, given the complex political and economic risks involved. Further developments are expected as more information becomes available from both US and Venezuelan sources.