Venezuela’s interim President Delcy Rodriguez announced that the country has received $300 million in revenue from oil sales — the first portion of funds from a U.S.-brokered oil deal involving up to 50 million barrels of Venezuelan crude, following the capture of former President Nicolás Maduro.
According to Rodriguez, the $300 million was deposited into an overseas account and is being distributed to four Venezuelan banks. These funds are intended to support the foreign exchange market by enabling banks to supply dollars to local companies that need foreign currency for imports.
U.S. President Donald Trump said separately that his government has taken the agreed 50 million barrels of oil out of Venezuela and is selling some of it on the open market, although shipping records indicate these barrels have not yet been exported.
The oil revenues are seen by Venezuela’s interim leadership as an important step toward stabilizing the currency and economy. Meanwhile, plans are underway to reform the country’s oil laws to attract foreign investment, with lawmakers signaling potential changes to partnership contracts in the energy sector.
