The US has collected about $13bn of Venezuela’s oil money. Where is it?
Financial Times 2026-07-22 04:00:17
Context: The United States has collected approximately $13 billion in oil money from Venezuela, but there is a lack of clarity on how these funds are being utilized. The issue has come to the forefront as Washington provides conflicting accounts of the destination of these funds. This development occurs in the context of Venezuela's economic crisis, exacerbated by an earthquake.
Key Facts
- The US has collected around $13 billion in oil money from Venezuela, a substantial sum that has raised questions about its allocation.
- The Biden administration has provided conflicting accounts of the destination of these funds, sparking concerns about transparency and accountability.
- The lack of clear information on the use of these funds has raised concerns about the economic crisis in Venezuela, which has been further strained by an earthquake.