LONDON, July 22 — Since taking control of Venezuela’s oil exports in January 2026, the Trump administration has collected more than 13 billion U.S. dollars in revenue from oil sales but has disclosed little about how the funds have been managed, drawing growing scrutiny from U.S. lawmakers and analysts, Financial Times reported on Wednesday.
Based on shipping data from Kpler and oil price assessments by Argus Media, the United States has received more than 13 billion dollars from Venezuelan oil exports. However, Venezuela’s official online tracker has recorded only one transfer of 300 million dollars from the United States, said the media outlet.
Oil revenue accounts for about one-quarter of Venezuela’s gross domestic product. Analysts say the limited transfer of funds has weakened the expected economic benefits from the resumption of oil exports. Official data showed the economy grew 2.5 percent in the first quarter.
The issue has drawn renewed attention following the June 24 earthquakes in Venezuela, with the United Nations estimating damage to buildings and infrastructure at 37 billion dollars. Washington has announced 386 million dollars in disaster assistance and said part of the oil revenue would support reconstruction, but has not disclosed the amount.
A U.S. State Department official previously said about 3 billion dollars had been transferred to Venezuela and pledged regular updates. However, lawmakers from both parties have since called for greater transparency over the management and allocation of the funds.(Namibia Daily News / Xinhua)
