The United States has completed the first sales of Venezuelan crude oil under a $2 billion energy agreement reached earlier this month between Washington and Caracas, according to a U.S. official cited by Reuters. The transaction marks a significant development in bilateral energy relations following years of sanctions and diplomatic tensions between the two countries.
According to the source, additional oil sales are expected in the coming days and weeks as part of the broader agreement. The initial transactions are valued at approximately $500 million, with proceeds currently held in U.S. government-controlled bank accounts, in accordance with an executive order issued last Friday.
A primary account holding the funds is located in Qatar, a country selected to serve as a neutral financial intermediary. Sources familiar with the plan indicated that Qatar was chosen due to its ability to safeguard the funds under U.S. oversight while minimizing the risk of seizure. The outlet Semafor was the first to report that the initial oil sales had been finalized.
The agreement forms part of a broader energy strategy announced by U.S. President Donald Trump, who stated that the United States plans to sell between 30 million and 50 million barrels of Venezuelan oil in coordination with U.S.-based energy companies. The arrangement followed the capture of Venezuelan President Nicolás Maduro, an event that reshaped political and economic dynamics surrounding the country’s oil sector.
White House spokesperson Taylor Rogers described the deal as “a historic energy agreement with Venezuela that will benefit both the American and Venezuelan people.” She emphasized that the administration views the initiative as an opportunity to stabilize oil markets while laying the groundwork for the rehabilitation of Venezuela’s energy infrastructure.
Rogers added that the Trump administration is actively facilitating discussions with oil companies that are “ready and willing to make unprecedented investments” aimed at restoring Venezuela’s oil production capacity. Years of underinvestment, mismanagement, and sanctions have significantly reduced output in what was once one of the world’s leading oil-producing nations.
