Trump says Venezuela to send US up to 50 million barrels of oil, ‘money controlled by me’

US President Donald Trump said Venezuela would relinquish as much as 50 million barrels of oil to the United States, declaring it would be sold with the proceeds benefitting both countries.

“I am pleased to announce that the Interim Authorities in Venezuela will be turning over between 30 and 50 MILLION Barrels of High Quality, Sanctioned Oil, to the United States of America,” Trump wrote in a social media post on Tuesday.

“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 added.

The US had attacked targets in Venezuela on Saturday, seizing President Nicolas Maduro over alleged drug offences and removing him from the country. After the operation, Trump said that the US would temporarily run Venezuela.

Trump had previously highlighted the economic potential of the country’s oil industry, saying that major US oil companies would invest billions to repair infrastructure and develop production.