State Department warns US citizens to leave Venezuela

The Trump administration intends to oversee the sale of Venezuela's oil indefinitely and some sanctions against Venezuela will be lifted, two sources familiar with the plan told ABC News.

The president announced last night that Venezuela will turn over 30 to 50 million barrels of sanctioned oil. This is just the first tranche, sources told ABC News.

Some sanctions against Venezuela will be rolled back to allow for the transport and sale of the oil on global markets, two sources said. Those sources said proceeds from the oil sales will settle in accounts controlled by the United States.

The White House declined to comment but did not dispute the reporting. CNBC was first to report.

-ABC News' Rachel Scott

U.S. Southern Command said in an X post Wednesday that another vessel was seized in the morning in international waters in the Caribbean.

"The interdicted vessel, M/T Sophia, was operating in international waters and conducting illicit activities in the Caribbean Sea. The U.S. Coast Guard is escorting M/T Sophia to the U.S. for final disposition," it said in the post, which included a video of the vessel.

-ABC News' Luis Martinez

The U.S. launched an operation to seize the Marinera oil tanker -- formerly known as the Bella-1 -- which has been linked to Venezuela and is currently in the North Atlantic, according to three sources familiar with the operation.

The operation is being carried out by the U.S. Coast Guard and other military assets. Russian military vessels were in the area as the situation unfolded. 

The U.S. Coast Guard has been tracking the tanker for the last two weeks after attempting to seize it on Dec. 20 when the empty ship was in the Caribbean and apparently headed to Venezuela.

On Dec. 31 the Russian Maritime Register of Shipping listed the ship -- with the new name of Marinera -- as a Russian vessel. The ship's crew also painted a Russian flag on the ship's side.

The Bella-1 previously flew a false Panamanian flag and was listed as part of Russia's so-called "shadow fleet," which Moscow is accused of using to evade international sanctions. The vessel was already under U.S. sanctions for carrying Hezbollah-owned cargo and for providing a form of support to the Iranian regime.

-ABC News' Luis Martinez and Luke Barr

U.S. oil executives are expected to meet with President Donald Trump at the White House on Friday to discuss investments in Venezuela, a White House official confirmed to ABC News.

-ABC News' Mary Bruce