The Trump Administration completed the first sale of Venezuelan oil for $500 million

The Trump Administration completed the first sale of Venezuelan oilfor $500 million. This was initially reported by the media outlet Semafor. The transaction took place eleven days after the capture of Nicolás Maduro, now ex-dictator of Venezuela, who remains under arrest in New York.

Last January 10, President Donald Trump announced at an event with oil executives that the United States would immediately begin selling barrels of Venezuelan crude oil, something that will continue indefinitely.

According to one of the sources told the aforementioned media, the revenues from the sale of oil are currently in bank accounts controlled by the U.S. government. However, the main account is in Qatar.

"The second official described Qatar as a neutral location where money can flow freely with US approval and without risk of seizure. Trump’s order noted that at least some of the revenue would be held in US Treasury accounts," reported Semafor.

White House spokesman Taylor Rogers said the following in a statement on the Venezuelan oil deal: "President Trump brokered a historic energy deal with Venezuela, immediately following the arrest of narcoterrorist Nicolás Maduro, that will benefit the American and Venezuelan people."

Scott Bessent, Secretary of the Treasury, expressed his views on the handling of the money collected with Venezuelan oil. During a presentation at the Minnesota Economic Club, he clarified that the Treasury Department "will oversee the accounts" and would be in charge of getting the money back to Venezuela.

"Treasury’s role will be making sure the funds get to the proper place. We’re the bankers here; we don’t direct the funds," Bessent said.

The news of the Venezuelan oil sale comes on the eve of President Trump's meeting in Washington DC with María Corina Machado, leader of the Venezuelan opposition.

During the event with oil executives, the president was asked about a possible role for Machado in the Venezuelan transition, to which he responded as follows: "Well, I have to speak to her. I mean, I'm going to have to speak to her. She might be involved in some aspect of it. I will have to speak to her. I think it's very nice that she wants to come in. And that's my understanding."

The Venezuelan referent was recently received at the Vatican by Pope Leo XIV. During the private audience, the Venezuelan leader asked the Pontiff to intercede for the release of the more than 1,000 political prisoners and for the progress without delay of the transition to democracy in Venezuela.