The US is set to take control of Venezuela's oil sales indefinitely, according to a White House official, as it prepares to lift restrictions on the country's crude in global markets. This move is expected to generate significant revenue, with sales potentially reaching 30-50 million barrels, and the funds will be controlled by the US government to maintain leverage over the Venezuelan government. However, the distribution of these funds is a point of contention, with some arguing that it should benefit the Venezuelan people directly, while others suggest it could be used to support the current regime. The US President Donald Trump has announced plans to sell the oil at market price and deposit the proceeds into US-controlled accounts, which he will oversee as president. This strategy aims to exert pressure on Venezuela's government and stabilize the country. The impact of this policy shift is uncertain, but analysts suggest that US oil companies and refineries may benefit in the short term, potentially affecting the market dynamics and prices. The US has been under pressure to address the humanitarian crisis in Venezuela, and this move could be a significant step in that direction, but it also raises questions about the long-term sustainability and effectiveness of such an approach.
