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Democrats Probe Trump's Venezuela Oil Transfer Plan

1/19/2026

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Summary

Story summary

Democratic senators, including Sen. Elizabeth Warren (D-Mass.), are investigating Trump administration's plan to transfer up to 50 million barrels of Venezuelan oil to the U.S. and banks' role in facilitating the sale.
They seek transparency about which banks would handle proceeds and have asked Bank of America and Goldman Sachs to provide information by January 2025.
U.S. President Donald Trump said the U.S. would manage Venezuela until a peaceful transition.

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Story summary

Democratic senators, including Sen. Elizabeth Warren (D-Mass.), are investigating Trump administration's plan to transfer up to 50 million barrels of Venezuelan oil to the U.S. and banks' role in facilitating the sale.
They seek transparency about which banks would handle proceeds and have asked Bank of America and Goldman Sachs to provide information by January 2025.
U.S. President Donald Trump said the U.S. would manage Venezuela until a peaceful transition.