Trump Says Venezuela Will Turn Over Millions Of Oil Barrels

The move comes after the U.S. charged Venezuela's Former President Nicolás Maduro related to drug trafficking.

President Trump said Venezuela will turn over 30 to 50 million barrels of sanctioned oil to the U.S..

It will be sold at market value for as much as $2.75 billion, with the proceeds controlled by the U.S.. The oil has already reportedly been produced and will be shipped to the U.S. for refining.

The move is expected to slightly lower oil costs, but it’s unlikely to have a major impact on American gas prices.

The move comes after the U.S. military captured and charged Venezuela’s Former President Nicolás Maduro related to drug trafficking.