Follow live updates as President Donald Trump speaks about Venezuela's future and U.S. allies respond to his threats against Greenland.

CARACAS, Venezuela — President Donald Trump said Tuesday that Venezuela would be providing 30 million to 50 million barrels of oil to the U.S., and he pledged to use proceeds from the sale of this oil "to benefit the people" of both countries.

The situation in Venezuela's neighbor to the West, Colombia, is tense tonight. Though Colombia is a major non-NATO ally of the U.S., President Trump has repeatedly threatened its President, Gustavo Petro,

Trump's comments to reporters aboard Air Force One suggested Colombia and Mexico could also face military action if they do not reduce the flow of illicit drugs to the United States.

Most worryingly for the U.S.'s fellow NATO allies, Trump doubled down on longstanding threats to annex Greenland, which is part of Danish territory. Danish and Greenlandic officials have repeatedly hit back at the White House's references to controlling the Arctic island.

Experts warn rhetoric alone can heighten risk perceptions for carriers and insurers, even if shipping operations remain stable.

Venezuela is turning over 30 million to 50 million barrels of oil to the United States, according to President Donald Trump.

President Trump’s comments about Greenland, Colombia and Cuba offered a glimpse of how emboldened he feels after the quick capture of Nicolás Maduro.