English transcript

...30 to 50 million barrels of oil. How exactly

is that going to work?

You're getting it out of Venezuela into the

United States?

- Yes. - And then what?

That's exactly right. So, as you know, Ed, as

the president announced last night, this was

the sanctioned oil that was basically just sitting

in barrels, sitting on ships, because of the

effective quarantine of the United States of

America. And these, the interim authorities

have agreed to release that oil to the United

States, so it will be arriving here at home

very soon. The United States government has

already begun marketing Venezuelan crude oil

in the global marketplace for the benefit of

the United States, engaged the world's leading

commodity marketers, key banks to execute and

provide financial support for these crude oil

and crude product sales. All proceeds from the

sale of Venezuelan crude oil and products will

first settle in US-controlled accounts at globally

recognized banks to guarantee the legitimacy

and integrity of the ultimate distribution of

proceeds, and those funds will be dispersed

for the benefit of the American people and the

Venezuelan people at the discretion of the United

States government.