US Holds $13 bn of Venezuelan Oil Revenue, Money’s Destination Unknown

After a January 2026 military operation that captured Venezuelan President Nicolás Maduro, the United States seized control of Venezuela’s oil exports. The Financial Times, using Kpler shipment data and Argus Media price estimates, calculated that the Trump administration has collected more than $13 billion from the sales – roughly a quarter of Venezuela’s GDP.

Washington said the funds would be held in trust for the Venezuelan people, but only a single $300 million transfer recorded in March on the Venezuelan government’s tracking site. The State Department later claimed about $3 billion had been disbursed, yet no detailed accounting has been provided. Congress members from both parties, including Democratic Rep. Joaquin Castro, have repeatedly demanded transparency, saying “the whole Congress has been kept in the dark.” President Trump has repeatedly boasted that the U.S. is “making a lot of money” and that the operation “recouped its cost 28 times.” Despite the influx of oil revenue, Venezuela’s economy remains weak, with the first‑quarter GDP at its lowest in five years and urgent reconstruction needs after two major earthquakes in June. The lack of clear information on how the $13 billion is being used has raised concerns of corruption and has become a focal point of congressional oversight.