Credited from: AA
The United States has finalized its first sale of Venezuelan oil, generating approximately $500 million, marking a historic energy transaction following recent military intervention in Venezuela and the capture of President Nicolás Maduro. The initial sale is part of a broader agreement estimated at $2 billion between U.S. and Venezuelan authorities. More sales are anticipated in the coming weeks, according to government officials, as the U.S. begins to market Caracas's crude oil under its jurisdiction, as reported by aa, africanews, and scmp.
Revenue from the initial sale is being held in U.S.-controlled accounts, with significant funds allocated to a principal account in Qatar to facilitate transactions under American oversight. This emerging arrangement follows the U.S. military's recent intervention, which changed the landscape of U.S.-Venezuela relations significantly. The U.S. plans to oversee the sale of approximately 30 to 50 million barrels of Venezuelan oil, stressing that the profits will be managed by Washington, as stated by U.S. officials from africanews and scmp.
President Trump announced earlier that major oil companies are prepared to invest at least $100 billion into Venezuela's critical oil infrastructure, while emphasizing the need for companies to engage directly with the U.S. instead of the Venezuelan authorities. He indicated that this move is to protect the region from being exploited by "narcoterrorists" and promised that oil revenues will be safeguarded from potential legal claims, as affirmed by statements from aa, scmp, and africanews.