The U.S. Has Transferred More Than $12 Billion In Oil Sales Revenue To Venezuela
- 14.11.2026, 9:12
Washington manages these revenues through a special mechanism established after Maduro's arrest.
The U.S. State Department reported that, during the first nine months of 2026, more than $12 billion in Venezuelan revenue from the sale of oil and other natural resources passed through a financial mechanism established by Washington. Almost all of these funds were transferred to the Venezuelan side, according to Voice of America.
Washington manages these revenues through a special mechanism established following the detention of Nicolás Maduro in January 2026. Control over the funds is part of an agreement with Venezuela’s transitional government, led by acting President Delsi Rodríguez.
Under the terms of the agreement, revenues from the sale of Venezuela’s oil and other natural resources are deposited into an account managed by the U.S. Department of the Treasury. The Department also approves how the funds are spent.
Under this scheme, the funds are deposited into an account under U.S. control. The Central Bank of Venezuela then submits a request to transfer the funds, after which U.S. authorities decide whether to approve or reject the payment.
As noted in the State Department report, the mechanism is designed to ensure transparency, accountability, and responsible management of Venezuela’s natural resource revenues.
Speaking to reporters at the G7 foreign ministers’ meeting in Paris, U.S. Secretary of State Marco Rubio stated that the political transition process in Venezuela is progressing successfully. Rubio expressed hope that key deadlines for establishing new judicial and electoral institutions would be met.
“I believe we are making good progress. We just need to continue monitoring the process and ensure that the established deadlines are met,” the Secretary of State said.
According to him, the plan calls for the appointment of new justices to the Venezuelan Supreme Court by mid-December, after which the country’s new National Electoral Council is to be formed.
Rubio also emphasized the importance of expanding Venezuela’s international ties.
“We believe Venezuela has a lot to offer. The closer it engages with the world—beyond its ties to Russia, China, and Iran—the more opportunities there will be for progress in the country’s economic and social recovery,” he said.