US officially begins selling Venezuelan oil
The United States has completed its first sale of Venezuelan crude oil worth about $500 million, a senior administration official said on Wednesday, marking a key shift in Washington’s control over Caracas’s energy assets following political upheaval in the country.
The sale is part of a broader $2 billion agreement reached earlier this month between the US and Venezuelan authorities, under which Venezuela has agreed to export up to 50 million barrels of oil to the US and global markets. Proceeds from the initial sale are being held in US-controlled bank accounts, including a primary account in Qatar, chosen as a neutral location to facilitate transfers without legal complications.
Officials say additional sales are expected in the coming days and weeks as part of a plan to market Venezuelan crude indefinitely, underlining Washington’s expanded involvement in managing Venezuela’s oil sector. The Trump administration has said it will use the revenue in a way that benefits both Venezuelans and Americans, though exact details of how the funds will be allocated have not been fully disclosed.
The move follows significant US actions in Venezuela, including the capture of President Nicolás Maduro in early January and efforts to normalize sanctioned oil flows into US refineries — a strategy observers say could reshape global energy ties. Oil trading houses and US companies are reportedly positioning themselves to participate in future shipments, though legal and commercial challenges remain.
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