United States Discloses Amount Returned from Venezuelan Oil Sales After Maduro's Capture

The United States has returned over $12.1 billion to Venezuela, derived from the sale of oil and other natural resources, following the capture of Nicolás Maduro on January 3rd.

This amount represents nearly 99% of the revenue managed by Washington in the first nine months of the year, as indicated by a document released on Thursday.

The report on the operations of Venezuela's Custodial Account, issued by the U.S. Department of State and compiled with assistance from professional services firm KPMG, shows that between January 3 and September 30, 2026, approximately $12.26 billion was received, with $12.11 billion being disbursed, equating to 98.7% of the deposits.

By the end of the period under review, $168.6 million remained in the account managed by the U.S. Department of the Treasury.

Details on Revenue Sources

The majority of the funds originated from Venezuelan crude oil exports, although the mechanism also received smaller income from the sale of gold, other minerals, and fertilizers.

The document, whose findings were also reported on Thursday by the Associated Press, sheds light on the financial control Washington exercises over Venezuelan oil revenues since the military operation that led to Maduro's capture and his transfer to New York to face drug trafficking charges.

Mechanism of Financial Control

This system operates through the sale of Venezuelan oil on the international market. Buyers deposit payments into an account under U.S. supervision, and Venezuelan authorities must request permission to use these resources.

Funds are released following a review by officials from the Departments of State and Treasury, with KPMG involved in financial monitoring and ensuring compliance with established procedures.

Announced in January by the U.S. Department of Energy, the system dictates that oil sales revenues initially pass through accounts controlled by Washington and are distributed based on U.S. government authorizations.

Legal Framework and Resource Allocation

Executive Order 14373, signed by Donald Trump on January 9, stipulates that these funds are the sovereign property of the Venezuelan state, held by the United States as custodian, not as owner.

According to the information provided by Washington, most of the returned funds have been channeled through currency exchange operations with Venezuelan commercial banks, aimed at supplying foreign currency to individuals and businesses within the country.

The report also indicates that approximately $133 million were used for directly paying services and supplies related to Venezuelan government needs.

Among the approved operations were $5 million allocated to the Miami-based law firm Greenberg Traurig; around $24 million for dialysis equipment and coal mining; and $8.7 million to settle debts related to vaccine acquisition through the Pan American Health Organization, as reported by the Associated Press.

Confidentiality and Criticism

The report keeps confidential the identities of the 20 companies purchasing oil and gold whose transactions are recorded.

U.S. authorities assert that these entities underwent checks to ensure compliance with financial sanctions and anti-money laundering regulations.

The publication follows a November 10 revelation by The New York Times of a previously undisclosed KPMG report.

The document provides insights into transfers and oversight mechanisms, though it does not position KPMG as responsible for an independent audit of all operations.

In February, the U.S. completed the return of the initial $500 million from Venezuelan oil sales by transferring a final $200 million segment to Caracas.

Subsequently, Secretary of State Marco Rubio defended the new Venezuelan oil sales system, asserting that the oil was being sold at market prices and revenues were being returned to address the population's needs.

In May, the organization Transparencia Venezuela criticized the lack of public information on buyers and recipients of the oil money.

Its director, Mercedes de Freitas, questioned the Venezuelan government's official transparency portal for displaying figures significantly lower than the resources U.S. authorities reported as already transferred to Caracas.