U.S. Announces that Venezuela Will Be Able Buy Products from the United States After New Oil Deal

US President Donald J. Trump announced through his Truth Social network that Venezuela will exclusively purchase products manufactured in the United States with the resources it receives through the new oil agreement between the two countries.  In a message posted on his social media accounts, Trump detailed that the purchases will include agricultural products, medicines, medical devices and equipment manufactured in the United States, intended to improve Venezuela’s electrical grid and energy facilities.

“In other words, Venezuela is committed to doing business with the United States as its main partner,” the president stated, describing the decision as “wise and very beneficial” for both the Venezuelan people and the United States.  According to the US president, the agreement will allow Venezuelan oil revenues to be channeled towards the acquisition of essential goods, while strengthening American industry and the productive sector.  Trump’s message came hours after Petróleos de Venezuela, SA (PDVSA) reported that it is in negotiations with the United States for the sale of volumes of crude oil, within the framework of existing trade relations between the two countries. 

According to an official statement released this Wednesday, the state-owned oil company indicated that the process is being carried out under similar schemes to those it maintains with international companies, including Chevron, and that it is a strictly commercial transaction.  PDVSA emphasized that the talks are governed by criteria of legality and transparency, with the aim of generating benefits for both parties and contributing to the stability of the energy market.  The company also reiterated its commitment to continue building strategic alliances that promote national development and benefit the Venezuelan people, while contributing to global energy stability.