United States President Donald Trump says Venezuela will turn over between 30 and 50 million barrels of oil to the US.

In a post on Truth Social, Trump stated that the oil would be sold at market prices and that he would oversee the proceeds to guarantee that the money benefited both Venezuelans and Americans.

He also stated that he had asked Chris Wright, his energy secretary, to carry out the plan “immediately”.

“I am pleased to announce that the Interim Authorities in Venezuela will be turning over between 30 and 50 MILLION Barrels of High Quality, Sanctioned Oil, to the United States of America,” he stated in an email.

“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! I have asked Energy Secretary Chris Wright to execute this plan, immediately.

“It will be taken by storage ships, and brought directly to unloading docks in the United States.”

Trump’s statement comes after he declared that the United States will take over Venezuela’s affairs until a political transition occurs.

On January 3, the United States apprehended Venezuelan President Nicolás Maduro and extradited him to New York, where he faces narco-terrorism allegations.

Trump stated that the US has “knocked out 97 percent of the drugs coming by sea,” suggesting that the majority of the illicit substances originated in Venezuela.