The Trump administration has collected more than $13 billion in revenues from Venezuelan oil exports since January 2024, according to calculations based on industry shipment and pricing data. However, officials have provided limited transparency regarding the disposition of these funds, raising questions about their ultimate use amid ongoing economic challenges in Venezuela.

In January, the United States took control over Venezuela’s oil exports and temporarily eased some sanctions following the capture of President Nicolás Maduro and the subsequent installation of Vice President Delcy Rodríguez as leader. Venezuelan oil revenues constitute roughly a quarter of the country's gross domestic product, and the suspension of sanctions was anticipated to stimulate economic recovery. Despite this, economists note that the country’s economic conditions have shown only muted improvement over the past six months, suggesting that not all oil-related revenues have been returned to Caracas.

The administration's accounts of its handling of the oil income have varied. Government statements have described the U.S. role as “custodial,” indicating management without appropriation, while former President Donald Trump claimed the U.S. was simultaneously “making a lot of money” from Venezuelan oil. Congress members from both parties have urged clarity on the allocation and oversight of these funds, with concerns centered on transparency and corruption safeguards. Democratic Representative Joaquin Castro characterized the U.S. intervention as driven by “oil, power and graft” and criticized the lack of accountability.

The $13 billion figure was derived using shipment data compiled by Kpler, an analytics platform, alongside pricing estimates from Argus Media for several Venezuelan crude grades, including Merey, Boscan, and Hamaca. While barrels with direct price data amounted to approximately $11.5 billion, the valuation of unpriced shipments likely raises the total above $13 billion.

The Venezuelan government has sought to track the oil revenue through a dedicated website; however, this portal has recorded only a single payment of $300 million as of March. The urgency of determining the funds’ fate intensified following two earthquakes on June 24 that caused extensive damage, with the United Nations estimating reconstruction costs alone at $37 billion.

Further political developments could affect scrutiny of the oil revenues. Benjamin Gedan, a former Latin America official during the Obama administration, suggested that a Democratic majority in Congress after the November elections could prompt increased investigations through subpoenas and hearings focused on the management and distribution of the funds.

In previous remarks, President Trump boasted that the U.S. had recovered the costs of its January operation in Venezuela “28 times” through oil revenues and referenced the “48 minutes to win that war,” highlighting the rapidity of the intervention and its purported financial returns. The State Department has maintained that “billions of dollars” have been channeled back to Venezuela’s economy and emphasized ongoing financial monitoring aimed at ensuring that the funds benefit the Venezuelan people.

As questions about the financial management persist, experts and lawmakers continue to call for greater accountability and disclosure regarding the billions of dollars generated from Venezuelan crude sales under U.S. control.