India, Jan. 7 -- US President Donald Trump on Tuesday announced that Venezuela's interim government will turn over 30 to 50 million barrels of sanctioned oil to the United States.

In a post on Truth Social, Trump said that this sanctioned, high-quality oil will be sold at its market price and that the resultant money would be controlled by him as the US President, so as to ensure that it is utilised for the benefit of the people of Venezuela and America.

The Republican leader said he has asked Energy Secretary Chris Wright to execute this 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 Am...