US Sells Venezuelan Oil for $500 Million After Maduro's Arrest
Economy
C
CNBC Awaaz•15-01-2026, 15:04
US Sells Venezuelan Oil for $500 Million After Maduro's Arrest
- •The US completed its first sale of Venezuelan crude oil, generating $500 million, 11 days after former leader Nicolás Maduro's arrest.
- •The US administration plans to control Venezuela's oil reserves and invite American companies to invest in its dilapidated oil industry.
- •Proceeds from the oil sale are held in US government-controlled bank accounts, with the main account reportedly in Qatar.
- •President Trump brokered a historic energy agreement, stating it would benefit both American and Venezuelan people.
- •Venezuela possesses 303 billion barrels of crude oil, roughly one-fifth of global reserves, attracting US investment interest.
Why It Matters: The US sold Venezuelan oil for $500 million, aiming to control reserves and rebuild the industry post-Maduro's arrest.
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