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Trump's Venezuela oil deal nets first $500M sale under new agreement

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A Trump administration official confirmed to Fox News on Wednesday the first sale of Venezuelan oil, valued at $500 million, has been completed.

The deal came after President Donald Trump announced interim authorities in Venezuela would be turning over between 30 million and 50 million barrels of sanctioned oil to the U.S., worth about $2.8 billion at current market prices.

Energy Secretary Chris Wright said the U.S. government would oversee the sale of the oil and proceeds would be deposited into accounts controlled by Washington.

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