Full Breakdown
Trump Administration’s Control of Venezuelan Oil Revenue
7/23/2026, 2:01:13 PM
Core Event
The White House has taken custody of billions of dollars generated from Venezuelan oil sales after the U.S. seized control of the country’s exports following the capture of President Nicolás Maduro and the installation of Vice President Delcy Rodríguez as his replacement. An executive order states that the funds remain Venezuelan property and are held in U.S. accounts “in a custodial capacity,” but the administration has offered little detail on how the money is being used.
Financial Scope
The Financial Times estimates that roughly $13 billion has been collected from Venezuelan oil sales to date. Oil accounts for about a quarter of Venezuela’s gross domestic product, a share that has become increasingly critical after the June earthquakes in Caracas that caused extensive damage and loss of life. Economists note that any recovery in the Venezuelan economy remains “relatively muted,” suggesting a substantial portion of the seized revenue has not reached the country.
Official Statements & Responses
The U.S. President Donald Trump has publicly claimed the United States is “making a lot of money” from the oil sales, though he has not provided a breakdown of allocations.
Criticism & Opposition
Both lawmakers argue that the lack of safeguards threatens Venezuelan citizens who depend on oil revenue for basic services.
Verbatim Quotes
- “Trump’s invasion of Venezuela has been about oil, power, and graft from the very beginning, with billions of dollars in Venezuelan oil revenue being controlled by the Trump administration without transparency or safeguards,” — Democratic Representative Joaquin Castro — Democratic Representative Joaquín Castro
