Trump Seizes Venezuela Oil Revenue Control, Demands US Product Purchases

World
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Firstpost•08-01-2026, 19:51
Trump Seizes Venezuela Oil Revenue Control, Demands US Product Purchases
- •Trump's new Venezuela strategy dictates how Caracas spends oil revenue, beyond just securing crude supplies.
- •Venezuela must use revenue from a new oil agreement exclusively to purchase American-made products.
- •The deal involves 30-50 million barrels of sanctioned oil, sold by the US, with revenue held under US authority.
- •Critics view this as unprecedented economic control, eroding Venezuelan sovereignty and flouting free trade norms.
- •The strategy isolates other global buyers like China, Cuba, and Russia, risking geopolitical tensions and weaving economic dependency.
Why It Matters: Trump's Venezuela oil deal grants US control over revenue, dictating spending on American goods.
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