US says it will control Venezuela's oil sales indefinitely'

"The United States says it will control sales of Venezuelan oil indefinitely and decide how the proceeds of those sales are used, as President Donald Trump's administration consolidates control over the South American country after abducting its president. The US Department of Energy said on Wednesday that it had begun marketing Venezuelan oil on global markets and all proceeds from the sales will first settle in US-controlled accounts at globally recognized banks. list of 4 itemsend of list These funds will be disbursed for the benefit of the American people and the Venezuelan people at the discretion of the US government, it said."

"The announcement comes just days after the Trump administration abducted Venezuelan President Nicolas Maduro on Saturday in what legal experts say was a clear violation of international law. The US has said it plans to run the country and take control of its vast oil reserves, with Trump saying on social media on Tuesday that Caracas would hand between 30 and 50 million barrels of oil over to Washington."

"The US actions against Venezuela come amid a months-long pressure campaign by the Trump administration against Maduro, who has been charged in New York with drug trafficking offences that he denies. That has included a partial US naval blockade against Venezuela and the seizure of several vessels that the Trump administration says were transporting oil to and from the country in violation of US sanctions. Earlier on Wednesday, US special forces seized two Venezuela-linked vessels including a Russian-flagged ship in the North Atlantic for allegedly breaching those sanctions."

The United States has begun marketing Venezuelan oil on global markets and will control those sales indefinitely. All proceeds will first settle in US-controlled accounts at globally recognized banks and will be disbursed at US government discretion purportedly for the benefit of American and Venezuelan people. Initial sales are expected to total approximately 30–50 million barrels and will continue indefinitely. These measures follow the US abduction of Venezuelan President Nicolas Maduro, allegations of drug trafficking, a partial naval blockade, and recent seizures of vessels accused of breaching US sanctions, including a Russian-flagged ship.

Read at www.aljazeera.com