Venezuela: Trump's $3 billion oil windfall — why it matters

US President Donald Trump announced Tuesday evening that he has struck a deal with Venezuela's interim authorities for the transfer of a large quantity of oil to the United States.

In a post on his social media network Truth Social, Trump wrote that the Latin American nation would be "turning over" between 30 and 50 million barrels of "sanctioned oil."

Acting Venezuelan President Delcy Rodriguez said late Wednesday that her country is "open to energy relations" with the US, while state-owned oil company PDVSA confirmed it is in negotiations with the US over the sale of crude oil.