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View all search resultsMaduro is in a New York jail awaiting drug charges after the Saturday morning raid that the US estimates killed about 75 people, according to a Washington Post report citing officials familiar with the matter.
Regime change: United States President Donald Trump (second right), alongside Deputy Chief of Staff (left) Stephen Miller, US Secretary of State Marco Rubio (second left) and US Secretary of Defense Pete Hegseth, speaks to the press on Saturday, Jan. 03, 2026 following US military actions in Venezuela, at his Mar-a-Lago residence in Palm Beach, Florida. (AFP/Jim Watson)
resident 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 US blockade, in a further sign that Washington is coordinating with the Venezuelan government since capturing President Nicolas Maduro.
Maduro is in a New York jail awaiting drug charges after the Saturday morning raid that the US estimates killed about 75 people, according to a Washington Post report citing officials familiar with the matter.
The US has yet to report a death toll from an operation that reasserted US willingness to intervene in Latin America with perhaps its most dramatic military operation since the 1989 invasion of Panama that seized Panamanian leader Manuel Noriega.
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. Venezuela's interim President Delcy Rodriguez on Tuesday declared a week of mourning for members of the military killed in the raid.
The operation brought condemnation from Russia, China and Venezuela's leftist allies, while allies of the United States have urged adherence to international law.
Maduro, 63, pleaded not guilty on Monday to narcotics charges. He said he was a "decent man" and still president of Venezuela, while standing in a Manhattan court shackled at the ankles and wearing orange and beige prison garb.
While Venezuela's political future remains uncertain amid US claims that it will be running the South American country, for now Trump appears to be working with Rodriguez and other senior officials from Maduro's government, disappointing the opposition that had hoped to play a larger role.
Trump on social media announced 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.
US officials have yet to outline a legal framework for seizing Venezuelan oil, though the US has accused Venezuelan tankers of breaking US sanctions to ship Iranian and Venezuelan oil.
Trump has also suggested the US 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.
US oil chief executives are expected to visit the White House as early as Thursday to discuss investments in Venezuela, according to three sources familiar with the planning.
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