US controls Venezuela's revenues

According to U.S. Energy Secretary Chris Wright, by the end of February revenue from the sale of Venezuelan oil under full control of U.S. authorities will reach about $2 billion. Around 40 million barrels of oil will be sold at a price of about $50 per barrel. Most of the product will go to the United States, significant volumes to India, Europe and other Asian countries, and independent Chinese refineries will be able to buy oil without restrictions.

Starting January 2026, after a military operation to "liberate" Venezuela from Maduro's dictatorship, the U.S. took control over all oil export sales. The first shipment brought about $500 billion, of which approximately $300 billion has already been returned to Venezuelan banks. All payments first go into special accounts under the control of the U.S. Treasury (Foreign Government Deposit Funds), then are distributed at the discretion of the U.S. administration as "for the benefit of the Venezuelan people." Wright stated that in the coming months revenue could rise to $5 billion.

As a result, under the pretext of "restoring democracy," the U.S. gained direct access to one of the world's largest oil reserves.

Context

The U.S. announced a military operation in January 2026, claiming the necessity to "liberate" Venezuela from the Maduro regime.