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US Holds $13bn of Venezuelan Oil Money: Where Is It?

Financial Times Companies •
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The Trump administration has collected more than $13bn in revenues from Venezuelan oil sales this year, yet it has given little detail about the money’s fate.

After seizing control of Venezuela’s oil exports and easing sanctions following the capture of Nicolás Maduro, Washington installed vice‑president Delcy Rodríguez as the de facto leader. Oil revenue accounts for a quarter of Venezuela’s GDP, so the funds were expected to revive a crisis‑ridden economy.

Six months later, economists note a muted recovery, suggesting the US may not have returned all proceeds to Caracas. Congressional pressure is mounting, with Democrat Joaquin Castro accusing the administration of “keeping Congress in the dark” over the allocation of the oil money.

The UN estimates earthquake damage at $37bn, and the US has pledged aid and troops. While officials claim the oil funds are “custodial” and used for salaries and equipment, transparency remains limited, leaving questions about how much of the $13bn actually benefits Venezuela’s people.