Trump Administration Moves Venezuela Oil Revenue From Qatar To US Treasury As Sales Top $1 Billion
- - Trump Administration Moves Venezuela Oil Revenue From Qatar To US Treasury As Sales Top $1 Billion
Ananya GairolaFebruary 17, 2026 at 8:01 AM
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The U.S. has shifted the flow of Venezuelan oil revenue directly into a U.S. Treasury account.
US Takes Direct Control Of Venezuela Oil Cash Flow
The Donald Trump administration has stopped sending money from Venezuelan oil sales to a U.S.-controlled bank account in Qatar, Energy Secretary Chris Wright told NBC News this week.
"The money won't go to Qatar anymore," he said, adding that revenue from Venezuelan oil sales has surpassed $1 billion.
The U.S. also has short-term deals in place to sell an additional $5 billion worth of crude in the coming months. So far, the shipments have been sent to refineries in the U.S. and Europe, he added.
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First $500 Million In Oil Proceeds Held In Qatar Sparks Scrutiny
The Trump administration assumed control of Venezuela's oil exports after former President Nicolás Maduro was detained in a military operation last month.
During the conversation with NBC, Wright said the first $500 million in oil proceeds was placed in a Qatar-based account before being transferred to Venezuela.
Lawmakers have raised concerns about how the account was managed and whether the arrangement was legally sound.
Senate Democratic Leader Chuck Schumer (D-N.Y.) and Sen. Adam Schiff (D-Calif.) introduced legislation on Thursday calling for the Government Accountability Office to carry out an independent audit of the Qatar account, CNBC reported.
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Trump Floats Potential US–China Deal On Venezuelan Oil Supply
Earlier this month, Trump said China may reach an agreement with the U.S. to buy Venezuelan oil.
During the same time, Trump also announced that the U.S. and India reached a trade agreement under which India will dismantle trade barriers while the U.S. will reduce tariffs on Indian imports from 25% to 18%.
The pact also eliminates the additional 25% tariff previously imposed on Indian goods because India purchases Russian oil.
“He agreed to stop buying Russian Oil,” Trump said then, referring to Prime Minister Narendra Modi, adding, “And to buy much more from the United States and, potentially, Venezuela.”
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