US President Donald Trump has said Venezuela will be turning over between 30 and 50 million barrels of oil to the United States of America.

Axar.az informs "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," Trump posted on Truth Social on Tuesday.

"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!" he added.

He said he had instructed Energy Secretary Chris Wright to implement the plan immediately, adding that the barrels would be loaded onto storage ships and transported directly to unloading docks in the United States.