• First Venezuelan oil sale valued at $500 million follows Maduro ouster
• Primary revenue account located in Qatar described as neutral location
• Democratic senators raise legal and transparency concerns about offshore arrangement

WASHINGTON, DC (TDR) — The Trump administration completed its first sale of seized Venezuelan oil valued at $500 million, with proceeds being held primarily in a bank account in Qatar, according to multiple administration officials. The arrangement has sparked immediate scrutiny from congressional Democrats who question the legality and transparency of holding military-seized assets in foreign accounts.

Revenue Storage Raises Questions

Administration officials told Semafor that revenue from the oil sales is currently being held in bank accounts controlled by the U.S. government, with the main account located in Qatar. A second senior administration official described Qatar as a neutral location where money can flow freely with U.S. approval and without risk of seizure.

“President Trump brokered a historic energy deal with Venezuela, immediately following the arrest of narcoterrorist Nicolás Maduro, that will benefit the American and Venezuelan people,” White House spokesperson Taylor Rogers said.

Freedom-Loving Beachwear by Red Beach Nation - Save 10% With Code RVM10

The spokesperson added that additional sales are expected in the coming days and weeks as the administration continues facilitating discussions with oil companies interested in investing in Venezuela’s oil infrastructure.

“President Trump’s team is facilitating positive, ongoing discussions with oil companies that are ready and willing to make unprecedented investments to restore Venezuela’s oil infrastructure,” Rogers continued.

Trump signed an executive order last Friday establishing protections for Venezuelan oil revenue held in U.S. Treasury accounts from attachment or judicial process, according to administration officials. The order aims to preserve funds to advance U.S. foreign policy objectives while Venezuela transitions to new leadership.

Democratic Opposition Intensifies

Sen. Elizabeth Warren (D-MA), the ranking member of the Senate Banking Committee, sharply criticized the offshore account arrangement before the sale’s completion.

“There is no basis in law for a president to set up an offshore account that he controls so that he can sell assets seized by the American military,” Warren told Semafor. “That is precisely a move that a corrupt politician would be attracted to.”

CLICK HERE TO READ MORE FROM THE THE DUPREE REPORT

Sen. Jack Reed (D-RI), the top Democrat on the Senate Armed Services Committee, expressed similar concerns about the Qatar account arrangement.

“I am innately suspicious” of using a Qatari account, Reed told Semafor, adding that lawmakers are “waiting for a briefing on the details” of the oil revenue, including “how they keep it and who distributes it.”

Reed noted that the Qatari bank likely has extensive international financial relationships that could complicate the arrangement. The senator also pointed out potential conflicts given U.S. pressure on other countries regarding defense spending.

Venezuela Cooperation Continues

The interim leadership in Venezuela, led by former Maduro No. 2 Delcy Rodríguez, has “fully cooperated” since the U.S.-Venezuelan energy deal was announced last week, according to an administration official. The official said the United States maintains “leverage” through sanctions and oil sales.

“This partnership between the United States of America and Venezuela will be a spectacular one FOR ALL,” Trump wrote on Truth Social after a call with Rodríguez. “Venezuela will soon be great and prosperous again, perhaps more so than ever before!”

Rodríguez described the call as “long, productive and courteous,” saying they discussed a bilateral agenda aimed at benefiting both countries.

Trump has indicated the U.S. would “run the country” until a “proper and judicious transition” of power takes place. He previously stated plans to take control of up to 50 million barrels of Venezuelan oil while recruiting American companies to invest billions of dollars to refurbish the country’s gutted oil industry.

Treasury Oversight Role

A Treasury Department spokesperson declined to provide detailed information about the account arrangements.

“The United States Treasury is fully committed to supporting President Trump’s efforts on behalf of the people of Venezuela,” the spokesperson told Semafor, declining to comment further.

Treasury Secretary Scott Bessent previously outlined the department’s role in managing the funds.

“Treasury’s role will be making sure the funds get to the proper place,” Bessent said. “We’re the bankers here; we don’t direct the funds.”

The administration still faces questions about implementing Trump’s stated plan to distribute oil revenue to Venezuelans who fled the country and determining when new elections might be held. The timeline for both initiatives may depend on continued cooperation from Rodríguez and the interim government.

Trump also told ConocoPhillips CEO Ryan Lance that the U.S. is “not going to look at what people lost in the past, because that was their fault,” referring to Venezuela’s estimated $170 billion in debts to international bondholders and oil companies.

Congressional Oversight Expected

Sen. Warren has called for public hearings on the Venezuela operation and its financial implications, urging Senate Banking Committee Chairman Tim Scott (R-SC) to use the committee’s oversight authority.

“The Committee—which has jurisdiction over the federal government’s provision of financial aid to commerce and industry, as well as the integrity of key financial markets—has a responsibility to demand answers from the Trump Administration,” Warren wrote.

She noted that a senators-only briefing raised further questions and underscored the importance of public hearings on Trump’s actions in Venezuela.

Political observers and analysts have questioned the optics of the offshore account arrangement, particularly given Trump’s business relationships with Qatar. The Qatari royal family reportedly gave Trump a $400 million luxury plane in May 2025 as his family business secured a deal to build a golf resort in the oil-rich country.

Will the Qatar account arrangement withstand congressional scrutiny and legal challenges?

Slug:

SEO Headline: Focus Keyphrase:

Description:

Tags:

Social Media Post:

Source Links:

Freedom-Loving Beachwear by Red Beach Nation - Save 10% With Code RVM10