The United States has finalized the initial sale of Venezuelan crude oil, valued at approximately $500 million, under a landmark $2 billion energy agreement with Caracas, a senior U.S. administration official confirmed to Reuters on Wednesday.
This transaction marks the activation of the first phase of the broader U.S.-Venezuela deal struck earlier this month. The official indicated that subsequent oil sales are anticipated in the near future.
According to the official, the proceeds from these inaugural sales are being held in U.S.-government-controlled bank accounts, a measure authorized by a presidential order last Friday. Reports indicate the primary account is located in Qatar, selected as a neutral financial hub to facilitate secure, approved fund movements and mitigate seizure risks.
These sales occur amid a dramatic recalibration of U.S.-Venezuela relations, following a military operation in early January 2026 that resulted in the capture of Venezuelan President Nicolás Maduro and First Lady Cilia Flores. They were transported to the United States and are now facing federal charges in a New York court, including narco-terrorism and drug trafficking.
In the operation’s aftermath, U.S. President Donald Trump announced that the United States would oversee Venezuela’s political transition and assume control of its oil assets. He stated that U.S. energy firms would be engaged to rehabilitate Venezuela’s crippled oil sector and suggested the nation’s petroleum resources could be treated as U.S. assets to offset historical losses and damages.
Discussion about this post