ALBAWABA- Venezuela has received $300 million in oil revenue from a U.S. facilitated crude sale, interim president Delcy Rodríguez announced on Tuesday, marking the first funds to flow under an oil agreement arranged after the kidnapping of President Nicolás Maduro earlier this month.
Rodríguez said the funds, part of an expected $500 million in proceeds from U.S. sales of Venezuelan crude, will be channeled into the foreign exchange market through national banks to help stabilize the bolívar and protect workers’ purchasing power amid severe economic strain.
Four Venezuelan banks have been told they will receive shares of the $300 million deposited in an account in Qatar, enabling them to sell dollars to local companies needing foreign currency.
The crude sale stems from a deal announced by U.S. President Donald Trump, under which Washington has taken control of between 30 million and 50 million barrels of Venezuelan oil and is selling some on the open market.
Trump described the arrangement as part of efforts to benefit both the United States and Venezuela’s economy, though shipping records do not yet show exports of the oil volumes involved.
The arrangement reflects a major shift in Venezuelan energy policy following Maduro’s ouster and Rodríguez’s installation as interim leader. Rodríguez has also proposed reforms to Venezuela’s hydrocarbon law aimed at attracting foreign investment into the oil sector, a move aligned with broader reconstruction plans backed by U.S. officials.
While the oil revenue injection provides much-needed economic relief, the terms of the U.S.-brokered deal blatantly compromise Venezuelan sovereignty over its energy assets.
The broader context of U.S. involvement, including military actions and control over crude sales, has drawn scrutiny from regional partners concerned about long-term implications for Venezuela’s political and economic independence.
