First, the country must kick out China, Russia, Iran, and Cuba and sever economic ties, the sources said. Second, Venezuela must agree to partner exclusively with the U.S. on oil production and favor America when selling heavy crude oil, they added.

Venezuela’s opposition supporters have long hoped for the day when Nicolás Maduro is no longer in power — a dream that was fulfilled when the U.S. military whisked the authoritarian leader away. But while Maduro is in jail in New York on drug trafficking charges,

US President Donald Trump has said Venezuela "will be turning over" up to 50m barrels of oil to the US, after a surprise military operation that removed President Nicolás Maduro from power.

Venezuela will be turning over tens of millions of barrels of oil to the United States, President Donald Trump said Tuesday, days after the U.S. military seized the president of the country, Nicolas Maduro.

Gen. Dan Caine, chairman of the Joint Chiefs of Staff, said the operation in Venezuela was known as Operation Absolute Resolve and involved more than 150 aircraft across the Western Hemisphere. Caine said it was the "culmination of months of planning and rehearsal" adding that the operation could only have been conducted by the U.S. military.

"This Oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America," Trump said.

President Donald Trump says Venezuela will be providing 30 million to 50 million barrels of oil to the U.S., and he pledges to use proceeds from the sale of this oil “to benefit the people” of both countries.

It comes after Nicolás Maduro and his wife were seized from Caracas and flown to the US. They have since appeared at a New York court.

Ex-Venezuelan President Nicolás Maduro spent the night in jail after he appeared in a U.S. courtroom — as questions linger about President Trump's plans for Venezuela.

Trump administration reportedly sidelines Venezuela opposition leader Machado, engaging Maduro's VP Rodríguez for transition after dictator's removal.

President Donald Trump’s has made broad but vague assertions that the United States is going to “run” Venezuela after the ouster of Nicolás Maduro but has offered almost no details about how it will do so.