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The U.S. has collected about $13 billion of Venezuela's oil money, but where is it?
By Geoff Dyer, Chris Cook, and Ana Rodríguez Brazon
Financial Times, London
Wednesday, July 22, 2026
The Trump administration has collected more than $13 billion in revenues from Venezuelan oil sales this year, according to FT calculations, but has said almost nothing about what has happened to the money.
The U.S. took control of Venezuela's oil exports and suspended some sanctions after capturing President Nicolas Maduro in January and installing vice-president Delcy Rodríguez as leader.
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Oil revenues make up around a quarter of Venezuela's GDP, and the sanctions relief was expected to provide a major boost to the economy, which was in crisis even before last month’s devastating earthquakes.
But six months after the U.S. seized control of the funds, economists say the evidence of a recovery in Venezuela is relatively muted -- a potential sign that the U.S. has not sent all the revenues back to Caracas.
Washington has given diverging accounts of what it is doing with the money, ranging from an executive order describing its own role as "custodial" to President Donald Trump saying the U.S. was "making a lot of money" from Venezuelan oil.
U.S. lawmakers from both parties are starting to pressure the administration to explain where it has gone and what it is doing to prevent corruption around its allocation. ...
... For the remainder of the report:
https://www.ft.com/content/0e562e03-106e-4729-83d7-675c27eb8c4d?syn-25a6b1a6=1
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