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2026-11-13T09:42:46.352Z

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US Manages $12B in Oil

US Manages $12B in Oil

The U.S. State Department said the United States managed more than $12.1 billion in proceeds from Venezuelan oil and other resources during the first nine months of the year, following the capture of Nicolás Maduro on January 3. The funds were held in an account at the Treasury Department and transferred to the interim government. Oil and gas revenues accounted for most of the total, while gold generated $108 million, minerals $22 million, and fertilizers $24.6 million. A total of $12.11 billion—about 99% of the funds—was disbursed, mostly through foreign-currency auctions. The money remained the sovereign property of Venezuela, and its disbursement was subject to the decision of Secretary of State Marco Rubio.

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