The United States has completed its first sale of Venezuelan oil under a new arrangement led by the Trump administration, with the transaction valued at approximately 500 million dollars, according to a U.S. administration official. While specific details of the sale have not been released, additional sales are expected in the coming days and weeks as Washington moves forward with a broader plan involving tens of millions of barrels.

President Donald Trump has said the United States intends to sell between 30 million and 50 million barrels of Venezuelan oil in partnership with American companies, marking a significant shift in how sanctioned Venezuelan crude is handled. The White House has characterized the initiative as a major energy deal following the arrest of Venezuelan President Nicolás Maduro, framing it as a step toward benefiting both U.S. and Venezuelan interests.

As part of the strategy, the administration is facilitating talks with U.S. oil companies willing to invest in restoring Venezuela’s long-declining oil infrastructure. Senior administration officials say the plan relies heavily on American capital and expertise to revive production capacity that has been crippled by years of mismanagement, sanctions and underinvestment.

The president recently met with top U.S. oil executives at the White House to address their concerns, including legal and commercial risks associated with operating in Venezuela. Industry leaders have expressed caution, pointing to past nationalizations and the country’s weak legal framework, which they say must be reformed before long-term investments can be considered viable.

Under the administration’s proposal, proceeds from the oil sales would be controlled by the U.S. government and divided among Venezuelans, participating U.S. companies and the U.S. Treasury. Any funds allocated to Venezuela would be used exclusively to purchase American-made products.

The initiative unfolds against the backdrop of longstanding U.S. sanctions on Venezuelan oil, imposed as part of Washington’s broader effort to reshape the country’s political leadership and control over its natural resources.