venezuelan oil returned to the center of the debate in Washington after a new estimate placed the income obtained by the US at over $13 billion since it took control of those sales in January. The amount has sparked doubts over the traceability of the money and over how much of that venezuelan oil really reached the hands of Venezuela.
According to estimates cited by Financial Times, the value of Venezuelan oil shipments with identifiable prices rounds $11.5 billion, and unconfirmed shipments would push the total above $13 billion. That figure coincides with the claim that the Trump administration has captured a significant portion of the crude oil commercial flow.
The point of contention is not just the volume, but the destination of those resources. The Venezuelan oil was supposed to, in theory, feed a trust for the benefit of Venezuela, but the US government has not presented a complete public breakdown of the financial management.
venezuelan oil and official versions
Donald Trump claimed that the US is “making a lot of money” with the venezuelan oil, while the Department of State maintains that billions of dollars have been returned to the Venezuelan economy under strict supervision. However, the public records disclosed so far only show $300 million, a difference too large to go unnoticed.
That contrast has fueled the main question surrounding the venezuelan oil: how much has been retained, how much has been distributed, and under what mechanisms. So far, the authorities have not explained in detail if those funds are kept in accounts controlled by the US Treasury, if they were channeled through third countries, or if they were applied to operational expenses related to the oil industry.
venezuelan oil: the background of the sales control
The case of the venezuelan oil dates back to Washington’s decision to manage the oil sales as part of its strategy on Venezuela. In January, the White House began supervising the exports and, according to international reports, the system passed through intermediate accounts before coming under direct control of the Treasury.
Economists consulted by international media maintain that Venezuela’s slow recovery could reflect that a significant portion of the money generated by the venezuelan oil has not been transferred to the country. That reading has not been refuted with audited figures from the US side.
The central data remains unclear: there are widely recognized income from venezuelan oil, but no public report that explains precisely where all the money is.
As long as those gaps persist, the venezuelan oil will continue to be not only an energy issue, but also a financial and political one. And the absence of a complete report on the destination of the funds keeps the suspicion open about the real administration of that wealth of resources.
