US to indefinitely control Venezuelan oil sales, says US energy secretary

NEW YORK - US Energy Secretary Chris Wright said Wednesday that the United States will not only market stored oil in Venezuela but also control the sales of oil output from the country indefinitely.

At an industry conference in Miami, Florida, Wright said: "We're going to market the crude coming out of Venezuela, first this backed up, stored oil, and then indefinitely, going forward, we will sell the production that comes out of Venezuela into the marketplace," according to media reports.

The sales will be "done by the US government and deposited into accounts controlled by the US government," Wright said.

Wright added that the proceeds from oil then can flow back into Venezuela to benefit local people while the United States needs to have the leverage and control of oil sales to drive changes that must happen in Venezuela.

The Trump administration is in "active dialogue" with Venezuela's leaders, as well as US oil companies, according to Wright.

Venezuelan authorities "will be turning over" between 30 million and 50 million barrels of sanctioned oil to the United States, said US President Donald Trump on Tuesday.

The United States has been widely bashed and protested following the large-scale military strike on Venezuela, which many view as an unlawful action primarily driven by a desire to control the South American country's vast oil reserves.