"Venezuela has the oil tankers, it has customers to buy oil from us, it would dedicate a part of its production to guarantee all the vaccines that Venezuela needs, oil for vaccine, we are ready and prepared," Maduro said on Sunday, as broadcast by VTV.
According to Maduro, Venezuela is taking legal and judicial measures to release funds frozen in public accounts abroad, to pay for vaccines under the international COVAX mechanism.
However, according to the Venezuelan leader, this would only cover 20% of the required amount of vaccines.
Maduro said the oil payment scheme was the second way to provide vaccines to the entire population of Venezuela.
Venezuela received the first batch of Russia’s Sputnik V coronavirus vaccine in February, which allowed the country to start its mass vaccination campaign.