US says it will control Venezuela's Oil Exports Indefinitely

Summary

US Energy Secretary Chris Wright outlined a policy shift in which the US will move from blockading Venezuelan oil to allowing controlled oil sales. The proceeds will be held in US-controlled accounts and directed back to benefit Venezuela. Wright said the goal is to cut drug trafficking, grow oil sales, and restore Venezuela while benefiting global energy markets.

• US plans to shift from Venezuela oil blockade to controlled oil sales.
• Venezuelan oil would flow to US refineries and global markets.
• Sales would be conducted by the US government and proceeds held in US-controlled accounts.
• Funds could flow back to Venezuela to support its people and economy.
• Goals include cutting drug trafficking, growing oil sales, and restoring Venezuela.
• Policy is framed as benefiting American people, the US economy, and global energy markets.