Donald Trump has announced that Venezuela will now use proceeds from its new oil agreement to purchase only American-made products, marking a major shift in economic relations between both countries.

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Trump made the announcement late Wednesday in a post on his Truth Social platform, stating that the deal will ensure that money earned from Venezuelan oil sales is spent strictly on goods produced in the United States.

According to him, the purchases will include American agricultural products, medicines, medical devices, and equipment needed to improve Venezuela’s electricity grid and energy infrastructure. He described the arrangement as a wise decision that will benefit both nations.

Trump said the agreement was reached with Venezuela’s interim government following the capture of President Nicolás Maduro, adding that Venezuela has committed to doing business with the United States as its principal economic partner.

He also revealed that Venezuela has been asked to cut economic ties with countries such as China, Cuba, Russia, and Iran as part of the broader agreement.

Calling the move a positive development, Trump said it would improve the lives of Venezuelans while strengthening the American economy.

Venezuela holds the world’s largest deposits of heavy crude oil, while the United States remains the world’s top oil producer. However, most U.S. oil production is light crude, and only a limited number of American refineries are designed to process heavy crude. This makes Venezuelan oil strategically important for producing gasoline, diesel, and other key fuels.

In addition to Venezuela, the U.S. also imports heavy crude oil from countries such as Canada and Mexico to meet refinery needs.

U.S. Secretary of State Marco Rubio reportedly told lawmakers that Washington has significant leverage over Venezuela, noting that the country’s oil tankers are already full and that the government in Caracas could face insolvency within weeks if exports are blocked.

Before relations deteriorated, the United States was Venezuela’s largest oil buyer. Years of sanctions later cut Venezuela off from global markets, shipping access, and vital materials needed to process heavy crude.

The new agreement signals a dramatic reset in U.S.–Venezuela relations, with oil once again at the center of negotiations and economic cooperation.