Archive · 28 Jul 2026
Trump claims US earned over $13 billion from Venezuelan oil
President Trump said the US has made over $13 billion from selling Venezuelan oil.
He didn't say exactly how the money is being used, but mentioned it could go to running the country or the military.
The money is being held in a Citibank account and is being audited.
The US took control of Venezuela's oil after a military raid that captured former President Maduro.
The US is also considering a similar approach for Iran.
President Trump claims the US has earned over $13 billion from Venezuelan oil sales.
Trump did not specify how the funds are being used, only mentioning they could go to running the country or the military.
The US took control of Venezuela's oil exports after a military raid that captured former President Maduro.
The proceeds are held in a Citibank account and are subject to an ongoing audit by KPMG.
The US is considering a similar model for Iran, seeking additional funding for military operations.
- Who
- US President Donald Trump
- What
- Claims US earned over $13 billion from Venezuelan oil sales
- When
- July 27, 2023
- Where
- Aboard Air Force One en route to Waterford Township, Michigan
- Why
- To justify the US military campaign in Venezuela and suggest a similar model for Iran
Transparency Advocates
Trump Administration
Use of Funds
Transparency Advocates
Transparency advocates argue that the US should provide a detailed breakdown of how the funds from Venezuelan oil sales are being used, emphasizing accountability and public disclosure.
Trump Administration
The Trump administration maintains that the funds are being used to 'run the country' and support military operations, with expenditures subject to audit.
- Date
- July 27, 2023
- Amount Earned
- Over $13 billion
- Source of Funds
- Venezuelan oil sales
- Interim President
- Delcy Rodríguez
- Audit Firm
- KPMG
- Bank Holding Funds
- Citibank
- Energy Secretary
- Chris Wright
- Secretary of State
- Marco Rubio
- State Department Official
- Michael Kozak