The Trump administration has directed the bulk of $500 million received from Venezuela’s inaugural oil sale to an account held in Qatar.
According to sources, the initial transaction occurred on January 14, with the majority of proceeds transferred to a Qatari financial institution. This arrangement adheres to a presidential decree signed by Trump on January 10, which established a national emergency to safeguard Venezuela’s oil revenues.
The administration cited Qatar’s neutral stance as critical in selecting the country for the account, aiming to minimize geopolitical risks associated with the transfer. Administration officials emphasized that such actions could undermine efforts to ensure economic and political stability in Venezuela, thereby threatening key foreign policy objectives.
Venezuelan oil exports had nearly halted after U.S. sanctions were imposed in December but have since resumed following recent eased restrictions on raw material supplies. Analysts note that U.S. shale production, which has propelled the nation to become the world’s largest oil producer, is nearing its growth limit while global demand continues to climb.
