US Department of State Releases Report on Venezuelan Funds

Nearly a year after the removal of Venezuelan leader Nicolas Maduro, the United States Department of State has issued a comprehensive document detailing the handling of more than $12bn in revenue generated from Venezuelan natural resources. The newly released report aims to provide transparency regarding funds collected from authorized transactions since January 2026.

The disclosure arrives nearly twelve months after US forces entered Caracas and detained Maduro alongside his spouse. The former leader and his wife were subsequently transported to New York City, where they face ongoing legal proceedings involving drug trafficking and torture charges. Following these events, then-vice president Delcy Rodriguez assumed power in the South American nation and established agreements granting Washington a direct role in export profits.

Under an executive order from US President Donald Trump, specialized accounts were created to oversee incoming transaction proceeds and distribute funds back to Venezuela in a regulated manner. The newly published State Department review examines financial flows occurring between January 3 and September 30, 2026, with auditing oversight provided by the firm KPMG.

During this timeframe, the United States collected more than $12.26bn from approved entities engaging in commercial activities within Venezuela. The vast majority of these deposits stemmed from crude oil and petroleum sales, though smaller amounts originated from transactions involving gold, minerals, and fertilizers. Initial transactions flowed through an account established at the Qatar National Bank before transitioning to a dedicated US Treasury-controlled account managed by roughly twenty redacted depositors.

The US has disbursed over $12bn in Venezuelan resource revenue, according to a new report.

According to the official findings, nearly all of the accumulated funds had been disbursed by the end of September. The distributed capital was directed toward Venezuelan banking institutions to support foreign exchange interventions designed to stabilize the local bolivar currency. The document indicates that approximately $9.4bn was transferred to legal entities, while $2.9bn reached individual recipients, though specific names remain redacted.

Why it matters

The report seeks to address concerns regarding the Trump administration's oversight of funds held in trust for Venezuela. While the Trump administration has emphasized the economic returns from these resource sales, local rights activists have expressed apprehension that Washington may prioritize oil revenues over advocating for essential democratic reforms following Maduro's departure.