US EditionUS Says It Has Returned to Venezuela All $500 Million of Initial Oil Sale
The $500 million returned from Venezuelan oil sales will be disbursed for public benefit under U.S. oversight to help stabilize Venezuela’s economy, officials said.
- On Tuesday, the United States federal government returned all $500 million from the initial Venezuelan oil sale to the Venezuelan government, following a deal reached last month.
- Earlier this year, after Venezuelan President Nicolás Maduro's capture on January 3, Venezuela handed over between 30 million and 50 million barrels of crude that the United States sold to generate proceeds held temporarily in Qatar.
- The U.S. official added that the final $500 million from the sale was recently sent to Venezuela, with disbursement for the Venezuelan people at Washington's discretion, as last week on Capitol Hill Rubio said.
- The first sale is expected to be followed by more, with Chevron, Vitol, Trafigura, and commodity traders vying to expand fleets and access Venezuelan oil deals to revive Venezuela's economy.
- Supporters in Caracas on Tuesday demanded Maduro's freedom, with Nicolas "Nicolasito" Maduro Guerra saying 'These people are not American' and Jose Perdomo stating 'We feel confused, sad, angry. There are a lot of emotions'.
12 Articles
12 Articles
U.S. Sends $500 Million in Venezuelan Oil Proceeds to Caracas
The United States has transferred the proceeds from sales of Venezuelan oil to Caracas, following a deal agreed by the two governments in January. The deal involved Venezuela “turning over” between 30 million and 50 million barrels of crude to the United States, according to a social media post by President Trump. The U.S. would then sell the barrels and use the money to help revive Venezuela’s economy, per statements made at the time. “Venezuel…
The U.S. returns $500 million to Venezuela after Maduro's capture, conditioning his use to benefit the people. The funds come from the sale of oil managed by Washington.
The United States has returned $500 million in oil sales to the Venezuelan government, with Washington stressing that it is a short-term step to stabilize the political situation there. The money was deposited in a temporary account in Qatar and is to be used for the Venezuelan government's current expenses.
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