India, Jan. 7 -- President Donald Trump announced that the United States will acquire between 30 to 50 million barrels of sanctioned oil from Venezuela. Coming a day after captured Venezuelan president, Nicolas Maduro, appeared in court in New York, Trump's announcement is the latest of the US's mounting pressure on the Latin American country.

Trump, in a Truth Social post on Tuesday, said that the sanctioned oil will be bought by the United States at market price and the money will be "controlled" by him to ensure it "is used to benefit the people of Venezuela and the United States!" Trump revealed that he has already instructed Energy Secretary Chris Wright to put the plan in motion.

Trump's announcement regarding the handover of the ...