US Returns $12 Billion Collected From Venezuela’s Oil Sales This Year

The United States has returned more than $12 billion collected from the sale of Venezuela’s oil and other natural resources since the U.S. Treasury began receiving the revenue following Venezuelan leader Nicolás Maduro’s capture in January, according to a report released by the State Department on Nov. 12.

The report, prepared by accounting firm KPMG in support of the Department of State, said the Treasury has paid out $12.11 billion—about 98.7 percent—in approved disbursements through authorized payment mechanisms to Venezuela.

“A key objective of the financial oversight program is to support the transparent and controlled disbursement of natural resource revenues into the Venezuelan economy for the benefit of the Venezuelan people,” the report said.

The money was collected from the sale of Venezuela’s oil, gold, minerals such as coal, and fertilizer.

The report offers a peek inside the Venezuelan government’s finances following the United States’ capture of Maduro and his wife, who remain detained in New York facing charges related to drug-trafficking, narco-terrorism, weapons, and torture.

Based on a sample, nearly $3.4 billion was disbursed to the food and consumer goods sector, more than $2.2 billion for business and administrative services, nearly $1.2 billion for agriculture, and about $532 million for healthcare and pharmaceuticals in the first nine months, the report says.

Other sectors included technology, home goods, electronics, construction, automotive, entertainment, transportation, energy, education, and financial institutions.

The spending included an $8.7 million payment to settle Venezuela’s debts for vaccine procurements with the Pan American Health Organization, the report stated.

The Banco Central de Venezuela (BCV) manages the allocation requests and disbursements on behalf of the government, the report said.

The payments are monitored by the U.S. State Department, the U.S. Treasury, and the contracted monitor KPMG, a global organization of independent auditing and accounting firms.

The report covers activity in the account from Jan. 3 to Sept. 30. The account is monitored by the Venezuela Financial Transparency Program operated by the U.S. Treasury and the State Department.

As of Sept. 30, the end of the 2026 budget year, $168.6 million remains in an escrow account managed by the U.S. Treasury Department, according to the report.

Some congressional Democrats previously challenged the Trump administration’s handling of Venezuela’s natural resources revenue.

In September, Sens. Elizabeth Warren (D-Mass.), the ranking member of the Senate Banking, Housing, and Urban Affairs Committee, Sheldon Whitehouse (D-R.I.), and Ron Wyden (D-Ore.) accused the Trump administration of creating “corruption and misappropriation risks” with the fund.

The lawmakers wrote to Treasury Secretary Scott Bessent and Secretary of State Marco Rubio on Sept. 16, asking them to provide extensive detail about the fund and how the money was disbursed.

“There are also significant risks of corruption and money laundering in the Venezuelan financial system, and it is unclear how your Departments are conducting due diligence or otherwise taking preventive steps before disbursing these funds,” the lawmakers wrote.

Warren’s office didn’t respond to an after-hours request for comment about the Treasury’s report Nov. 12.