U.S. Completes First Sale of Venezuelan Oil
The United States has finalized its inaugural sale of $500 million in Venezuelan crude oil, as reported by various media outlets on Thursday, referencing unnamed government sources.
According to industry insiders, the revenue from this sale will be stored in bank accounts managed by the U.S. government, with the primary account based in Qatar. This arrangement allows for transactions with U.S. approval in a “neutral venue” that minimizes the risk of asset seizure.
Officials have indicated that this move aligns with an executive order. Recently, President Donald Trump announced safeguards protecting Venezuelan oil revenues held in U.S. Treasury accounts from judicial actions, aiming to “preserve these funds to support U.S. foreign policy goals.”
A source shared with Semafor that Venezuela’s current government, under “acting president” Delcy Rodriguez, is “fully cooperating” with the U.S., noting that sanctions and oil transactions provide the U.S. with a measure of “influence.”
“The U.S. Treasury Department is dedicated to supporting President Trump’s initiatives for the Venezuelan populace,” a spokesperson from the department stated.
Another anonymous official reiterated that the main account for the oil sale proceeds is indeed in Qatar, emphasizing that it provides a “neutral” setting for funds to circulate freely with U.S. approval.
“Following the arrest of alleged narco-terrorist Nicolas Maduro, President Trump negotiated a significant energy agreement with Venezuela expected to benefit both Americans and Venezuelans,” White House Press Secretary Taylor Rogers commented, adding that the administration is engaged in “positive and ongoing dialogues” with oil companies concerning Venezuela.
CBS News reported similarly on Rogers’ remarks. Fox News also highlighted his statement, noting that “President Trump’s team is nurturing constructive discussions with oil firms ready to invest in revamping Venezuela’s oil infrastructure.” Additionally, it mentioned Trump’s commitment to safeguarding the Western Hemisphere from the threats posed by drug traffickers and adversarial nations.
Reuters cited an unnamed U.S. official saying that more oil sales are anticipated shortly. Meanwhile, Venezuela’s government announced plans to sell up to $2 billion worth of oil to the U.S., indicating that these transactions would help the country sidestep further production reductions while shifting supplies away from China.
