The Trump administration reported that it returned more than EUR 10.8 billion in revenues obtained from the sale of Venezuelan oil, corresponding to almost 99% of the total collected since the capture of former President Nicolás Maduro.
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13/11/2026
by
Lusa
A trump administration said it returned more than 12 billion dollars (10.8 billion euros), or almost 99%, of the revenues obtained by selling Venezuelan oil since the capture of former President Nicolás Maduro.
In a report released by the U.S. State Department, the consulting company KPMG stated that sales of Venezuelan crude, along with small amounts of gold, minerals and fertilizers, generated $12.26 billion.
Almost all the money was returned to Venezuela under a broad energy agreement reached with the country's interim authorities, according to the report.
By September 30, the end of the fiscal year of 2026, $18.6 million remained in a frozen account managed by the US Treasury Department, the report advances.
Under the terms of the agreement, Venezuelan crude is sold on the open market with the revenues to be deposited in the US-managed account. Venezuelan leaders then request approval for these funds to be returned to the country to finance infrastructure and humanitarian aid.
The report also gives a vision of the finances of the Venezuelan government since the US captured Maduro in January this year, bringing him to New York to face drug trafficking charges, and effectively taking control of the country's deteriorated oil industry.
Most of the more than $12 billion in US oil revenues until September was distributed to individuals and companies in Venezuela through foreign exchange transactions with commercial banks in the country.
However, about 133 million dollars were channeled to pay directly necessary services or supplies to the Venezuelan government, the document shows.
US-approved transactions include $5 million for the Miami-based Greenberg Traurig law firm, nearly 24 million for dialysis and coal mining equipment, and 8.7 million to pay off Venezuela's debts in the purchase of vaccines with the Pan American Health Organization, according to the same.
The report omits, however, the names of the 20 companies that bought oil and gold during the first nine months of 2026.
Nevertheless, each had to undergo a verification by the US government to ensure compliance with sanctions and money laundering controls, a change from previous practice when the government of Venezuela was facing little supervision in the management of its oil funds.