Venezuela to continue supplying oil to US ‘indefinitely’, White House says

<p>US to remove some sanctions to allow it to keep selling country’s supplies after laying claim to blockaded crude</p><p><a href="https://www.theguardian.com/business/live/2026/jan/07/oil-price-falls-trump-venezuela-supply-stock-markets-dollar-uk-construction-business-live-news-updates">Business live – latest updates</a></p><p>The US plans to control Venezuela’s oil sales “indefinitely” after laying claim to 50m barrels of blockaded crude and <a href="https://www.theguardian.com/world/2026/jan/07/russia-submarine-escort-shadow-fleet-tanker-us-sanctions">seizing a Russian oil tanker</a> linked to the South American country.</p><p>The White House already plans to sell up to $3bn (£2.2bn) worth of Venezuelan crude stranded in tankers and storage facilities into the oversupplied global market after the American military’s <a href="https://www.theguardian.com/world/2026/jan/03/explosions-reported-venezuela-caracas">capture of Nicolás Maduro</a>.</p> <a href="https://www.theguardian.com/business/2026/jan/07/oil-prices-fall-after-trump-says-venezuela-will-send-up-to-50m-barrels-to-us">Continue reading...</a>