Story · United States
US collected $13bn from Venezuelan oil sales; fate of funds unclear
The Financial Times reports that the Trump administration has collected over $13 billion from Venezuelan oil sales in 2026 after seizing control of exports and suspending sanctions following the capture of President Nicolás Maduro. However, Washington has given conflicting accounts of where the money is going, ranging from a 'custodial' role to Trump stating the US is 'making a lot of money.' Economists note a muted recovery in Venezuela, suggesting not all funds have been returned. Bipartisan US lawmakers are demanding transparency, especially after devastating earthquakes on June 24 caused an estimated $37 billion in damage. A Venezuelan government transparency website shows only one entry: a $300 million transfer in March.
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