New York [US]: The United States has carried out its first sale of Venezuelan crude oil, valued at nearly USD 500 million, marking a significant shift in energy and diplomatic relations between the two countries, according to officials from the Donald Trump administration.
The move follows the recent detention of Venezuela’s former leader Nicolás Maduro, which took place 11 days ago. In the aftermath, President Trump announced that Washington would assume control over Venezuela’s oil assets during a transitional period and involve American energy companies in reviving the nation’s severely damaged oil sector.
According to reports, proceeds from the oil sale are currently being held in bank accounts under US government supervision. Officials indicated that the primary account managing these funds is based in Qatar, chosen to safeguard the revenue from legal claims or seizures.
Earlier this month, President Trump signed an executive order detailing measures to prevent US courts or creditors from accessing revenue generated from Venezuelan oil sales. The administration has stated that additional oil transactions are expected in the coming days and weeks.
White House officials described the development as a landmark energy initiative. They said discussions are underway with major US oil companies willing to invest billions of dollars to restore Venezuela’s oil infrastructure, which has suffered years of neglect and mismanagement.
US Energy Secretary Chris Wright confirmed that Washington would oversee the sale and management of Venezuelan oil, with revenues deposited into government-controlled accounts until further decisions are made regarding their use.
Venezuela possesses one of the world’s largest crude reserves—estimated at over 300 billion barrels, roughly one-fifth of global reserves—making it a strategic focus for long-term energy investments.
Meanwhile, President Trump also revealed that he recently held a detailed phone conversation with Venezuela’s interim president Delcy Rodríguez. Both leaders described the discussion as constructive and respectful, focusing on bilateral cooperation and unresolved issues between the two nations.
Following Maduro’s capture, Trump reiterated that the US would manage Venezuela’s transition phase, emphasizing the need for full access to its energy resources and key sectors to stabilize the country and rebuild its economy.
