US Has Amassed $13 Billion in Venezuelan Oil Sales Amid Accounting Secrecy

The U.S. government has collected more than $13 billion from sales of Venezuelan crude oil this year after seizing control of the country's export mechanisms, while offering minimal public accounting of where the funds have gone.

Shipping analytics from Kpler and pricing evaluations from Argus Media show that crude exports, including Merey, Boscan, and Hamaca grades, have generated over $13 billion since Washington took control of state energy flows in January, according to the Financial Times.

Despite oil revenues constituting roughly a quarter of Venezuela's gross domestic product, evidence of local economic recovery remains muted.

The country recorded a first-quarter expansion of just 2.5 percent, marking its lowest growth rate in nearly five years.

"Venezuela likely did not grow more rapidly despite increased oil revenues in the first quarter because the U.S. didn’t transfer to the Venezuelan government the totality of its increased oil revenues," noted Francisco Rodríguez, an economist at the Center for Economic and Policy Research.

Divergent Accounts

Caracas established a dedicated website to monitor income from U.S.-managed petroleum sales, yet the platform lists only a single transfer of $300 million executed in March.

Explanations from Washington regarding the capital remain contradictory. An initial U.S. executive order framed the role as purely "custodial," but President Donald Trump later stated that the administration was "making a lot of money" and had recovered operational military costs 28 times over.

While State Department officials maintain that billions of dollars have entered the Venezuelan economy under KPMG audit supervision, congressional oversight committees report receiving no documentation since April.

Addressing the arrangement during a congressional hearing, senior State Department official Michael Kozak stated: “It’s their money but ... they have to get our permission.”

Reconstruction Demands

U.S. lawmakers from both parties are intensifying pressure on the administration to disclose allocation records and introduce safeguards against corruption.

"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," stated Representative Joaquin Castro, a senior Democratic member of Congress.

Demands for financial clarity have escalated following two devastating earthquakes on June 24, which the United Nations estimates caused $37 billion in structural damage across Venezuela.

Although Washington has pledged $386 million in direct disaster assistance, diplomatic officials confirmed that proceeds from the oil accounts are also being made available for reconstruction efforts without specifying exact figures.