WASHINGTON, CARACAS – The United States has transferred the entire $500 million from the first sale of Venezuelan oil back to Venezuela, ending a period in which the funds were held in a special account, Reuters reports.
According to U.S. officials, the final $200 million was recently remitted as part of an agreement between Washington and Caracas, completing the payout of the proceeds from the inaugural oil sale. The revenue had initially been held in a controlled account intended to benefit the Venezuelan people.
The arrangement allows Venezuela to receive the funds, which were originally generated through the sale of crude exported under a broader deal with the United States. U.S. Secretary of State Marco Rubio previously stated that the American government’s involvement in managing the oil sale proceeds was aimed at providing temporary economic support and stabilizing essential public services in Venezuela.
The successful transfer of the full amount marks a notable moment in ongoing economic arrangements between the two countries following efforts to open Venezuelan oil sales and create mechanisms for delivering revenue back to the Venezuelan public. Some analysts see it as part of broader cooperation aimed at supporting Venezuela’s economy and public sector operations
The agreement remains part of evolving economic and diplomatic engagement, with further oil sales and collaborations expected under the terms of the larger deal announced earlier in 2026.
What happened:
- The U.S. completed the first oil sale valued at $500 million as part of a bilateral deal.
- Funds were held in a special account controlled by U.S. authorities before being released to Venezuela.
- Officials say the goal was to help stabilize the Venezuelan economy and support essential services.
Economists and policymakers continue to watch how future sales revenue will be managed and distributed, in light of broader efforts to reintegrate Venezuelan oil into international markets.