First crude delivery in nearly six years signals rapid shift in Venezuela’s energy policy under U.S.-backed transition.
By yourNEWS Media Newsroom
Venezuela has begun exporting crude oil to Israel for the first time in years, initiating a shipment roughly one month after the capture of former president Nicolás Maduro by U.S. forces, according to people familiar with the transaction cited by Bloomberg.
The cargo is bound for Bazan Group Ltd., Israel’s largest oil refining company. If completed, the delivery would represent Venezuela’s first crude shipment to Israel since mid-2020, when approximately 470,000 barrels were sent, according to the report.
The renewed trade follows sweeping changes to Venezuela’s oil sector after Maduro’s detention and the installation of an interim government supported by the United States. Donald Trump said in January that the United States would effectively oversee Venezuela’s governance during a transitional period and formally pledged tighter oversight of the country’s oil revenues.
Speaking to energy executives at the White House, Trump said lower global energy prices would be among the outcomes of the new approach, telling industry leaders that U.S. involvement would help stabilize supply.
Before Maduro’s removal, Venezuela’s oil industry had been heavily influenced by Moscow and Beijing, with most crude exports flowing to China in recent years amid expanded foreign investment and financing. Analysts have previously documented how Chinese involvement shaped the sector’s operations and debt structure, as detailed in policy analysis.
In January, Trump also announced plans for Venezuela’s interim authorities to ship between 30 million and 50 million barrels of oil to the United States. According to the administration, proceeds from those sales would be directed toward American agricultural goods, pharmaceuticals, medical equipment, and repairs to Venezuela’s aging energy infrastructure.
As part of the post-regime transition, the Trump administration demanded that interim President Delcy Rodríguez sever economic ties with China, Russia, Iran, and Cuba, backing her leadership over opposition figure María Corina Machado.
U.S. military forces are simultaneously enforcing a maritime blockade on sanctioned tankers transporting Venezuelan crude, seizing multiple vessels accused of attempting to evade restrictions.
Meanwhile, Chris Wright, the U.S. secretary of energy, plans to travel to Venezuela to discuss the future of state-owned oil company PDVSA, according to Politico.
Neither Venezuela’s foreign ministry nor Bazan Group responded to requests for comment on the shipment.
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