Why the Trump administration is holding millions of dollars from Venezuelan oil sales in a Qatari bank
CNN • • nation
Key Points:
- The U.S. has raised $500 million from the first sale of Venezuelan oil, with proceeds being held in Qatar rather than U.S. banks or sent directly to Venezuela, aiming to bypass creditors and sanctions blocking Venezuela from the global banking system.
- Treasury Secretary Scott Bessent confirmed the funds will begin flowing into Venezuela imminently, with Venezuelan banks already advertising cash availability, and the money is intended to support government operations, security, food, and medicine.
- The Trump administration issued an executive order to block creditors from placing liens or garnishments on these funds, but routing the money through Qatar raises concerns about transparency and potential misuse by Venezuela’s authoritarian government.
- Experts note Qatar’s historical role as an intermediary between the
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