US President Donald Trump has said Venezuela “will be turning over” up to 50 million barrels of oil – worth about $2.8bn (£2.1bn) – to the US, after a military operation to remove President Nicolás Maduro from power.

The oil will be sold at its market price, Trump posted on social media, adding he would control the money raised and use it to benefit the people of Venezuela and the US.

His comments come after he said the US oil industry would be “up and running” in Venezuela within 18 months and that he expected huge investments to pour into the country.

Trump posted on Truth Social on Tuesday: “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.

“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!”

Credit: BBC