Trump announces plan to sell Venezuelan oil as Maduro remains in U.S. jail

U.S. President Donald Trump on Tuesday unveiled a plan to refine and sell up to 50 million barrels of Venezuelan oil that had been stuck in Venezuela under U.S. blockade, as Venezuelan President Nicolas Maduro remains in a New York jail after being forcibly seized by the U.S. military.

Maduro is awaiting drug charges after the Saturday morning raid that the U.S. estimates killed about 75 people, according to a Washington Post report citing officials familiar with the matter. Protesters across the world have called for his release.

Nor has Caracas given a number for those killed, but the army posted a list of 23 names of its dead. Venezuelan officials have said a large part of Maduro's security contingent was killed "in cold blood," and Cuba has said 32 members of its military and intelligence services in Venezuela were killed. Venezuelan acting president, Delcy Rodriguez, on Tuesday declared a week of mourning for members of the military killed in the raid.

The operation brought condemnation from China, Russia and other Global South countries, while allies of the United States have urged adherence to international law.

Maduro, 63, pleaded not guilty on Monday to all U.S. charges. Speaking in Spanish, he said he was "kidnapped" from his home in Caracas and still president of Venezuela. 

"I am a prisoner of war," he added. 

U.S. to take Venezuelan oil

Trump announced on social media that Venezuela would sell 30 million to 50 million barrels of sanctioned oil that would be shipped directly to the United States under a plan to be executed immediately by Energy Secretary Chris Wright.

"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 said. Based on recent prices for Venezuelan oil, the deal could be worth up to $1.9 billion.

The Venezuelan government has not commented on Trump's plan.

U.S. officials have yet to outline a legal framework for seizing Venezuelan oil, though the U.S. has accused Venezuelan tankers of breaking U.S. sanctions to ship Iranian and Venezuelan oil.

Trump has also suggested the U.S. would help rebuild the country's oil infrastructure to benefit oil majors such as Exxon Mobil and ConocoPhillips, which were affected by a Venezuelan oil nationalization by former President Hugo Chavez, and Chevron Corp, which has continued to operate there.

'No foreign agent'

Rodriguez on Tuesday condemned the U.S. military seizure of Maduro and his wife, stressing that "there is no foreign agent" governing the South American country.

"We are here governing alongside the people. The Venezuelan government rules our country, no one else," she said at an event in Caracas. "There is no foreign agent governing Venezuela."

Venezuelans "remain steadfast" in their bid to defend the nation, Rodriguez said, adding that demonstrations will be held across the country to demand the release of the presidential couple from U.S. custody.

She added that despite the attack on Venezuela, the country continues to fulfill its production, supply and export cycle.

(With input from Reuters, Xinhua)