Trump: US Will Refill Strategic Petroleum Reserve Using Venezuelan Oil

Thomson / Reuters / NEWSMAX

 

President ‌Donald Trump said on Sunday that oil from a recently struck deal with Venezuela will be used to replenish the Strategic Petroleum Reserve, ‌which has been drawn down sharply ​in recent years to respond to global supply disruptions and high fuel ⁠prices.

 

Trump said in a social media ​post that the "topping out" process will begin shortly, ⁠describing Venezuelan oil as a “Gift from Venezuela to the People of the United States.” 

 

It ‌is unclear how quickly the ​Venezuela deal could ‌provide oil for the reserve or deliver any near-term ‌benefit to U.S. motorists. The agreement Trump announced on Friday is aimed at reviving Venezuela's ⁠battered oil industry, ‌but it will ⁠require significant investment and infrastructure work before production can ⁠rise ⁠substantially.

The reserve held about 290 million barrels as of ‌August 21, near a 44-year low, after the United States drew down its stockpile under both ‌the ​Biden and Trump ‌administrations in response to global supply disruptions, including Russia's invasion of Ukraine and the ​conflict with Iran. Read  lore here.

US launches first strikes on Iran in weeks as regime vows revenge

Ronny Reyes / NEW YORK POST 

The US launched strikes on Iran’s Larak Island on Sunday, the first offensive in weeks — as the regime vowed revenge.

The US fired the attack after Iran’s Islamic Revolutionary Guard Corps were allegedly setting up another wave of underwater mines in the Strait of Hormuz, Axios reported. 

“Earlier today U.S. forces struck two Iranian launchers on Larak Island,” a US official told the outlet. “Islamic Revolutionary Guard Corps forces were observed preparing to launch rockets with sea mines into Strait of Hormuz.“

The Islamic Revolutionary Guard Corps confirmed the attack that reportedly killed and wounded several people, but did not provide further details.

The attack “will be answered by the sons of Iran and will result in the punishment of the aggressor,” the IRGC told state broadcasters.