In a historic development for U.S.-Venezuela relations, Energy Secretary Chris Wright met with Venezuela’s interim President Delcy Rodríguez in Caracas, marking the highest-level U.S. visit focused on energy policy to the OPEC nation in almost three decades. This meeting was pivotal as it coincided with an on-the-ground assessment of Venezuela’s oil industry, which the U.S. aims to help rebuild.
In an exclusive interview with NBC News, Wright revealed significant changes regarding the management of Venezuelan oil revenue. He announced that the proceeds from oil sales will no longer be funneled into an account in Qatar. “An account was set up in Qatar controlled by the U.S. government the whole time,” Wright explained. “Now we have an account at the U.S. Treasury. The money won’t go to Qatar anymore.” This shift comes after the Trump administration assumed control of Venezuela’s oil sales following the capture of former President Nicolás Maduro in a military raid last month.
As a result of these changes, Wright noted that current revenue from Venezuelan oil sales has reached over $1 billion, with short-term agreements in place to sell an additional $5 billion in crude oil in the coming months. The sales primarily service U.S. refineries and European markets, signaling a shift in where Venezuelan oil is distributed.
The previous arrangement of using a Qatari account was put in place to mitigate risks related to Venezuela’s substantial outstanding debts. “Since Venezuela has so many creditors, we had some risk if we put it into a U.S. bank account that creditors could freeze that money,” said Wright, emphasizing the urgency of getting funds to Venezuela while addressing the needs of creditors. Despite these adjustments, doubts persist regarding the transparency and legality of these financial maneuvers, prompting Congressional Democrats such as Senators Chuck Schumer and Adam Schiff to propose legislation for an independent audit of the Qatari account.
Complicating the situation is the fact that the U.S. does not formally recognize Rodríguez’s government. Secretary of State Marco Rubio pointed out that while the Trump administration acknowledges the opposition-led National Assembly established in 2015, a way must be found to legally navigate the recognition issue for funds to be deposited effectively. “We have to find some creative way legally to meet that standard,” he stated before the Senate Foreign Relations Committee.
Scott Anderson, an international law expert, noted that any funds deposited in the U.S. should, in theory, be controlled by the opposition National Assembly because of this recognition dilemma. This raises questions about the future governance of Venezuela and what decisions the U.S. will make regarding recognition moving forward.
Wright remained optimistic about the future, stating that elections and a transition of power are expected during Trump’s term. “It is a question of a process to get there,” he said. “Ultimately, what the long-term political leadership in Venezuela is going to be, it’s going to be up to Venezuela.”
As the situation evolves, the U.S. government is poised to play a significant role in shaping the future of Venezuela’s oil industry while navigating complex political dynamics.
Original Source: https://www.cnbc.com/2026/02/13/venezuela-oil-sales-qatar-chris-wright-trump.html
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Publish Date: 2026-02-13 22:39:00
