Lawmakers Question Trump Role in Venezuelan Oil Sales

US – (Special Correspondent / Web Desk) – With global attention fixed on Venezuela’s vast oil reserves—believed to be the largest in the world—new questions are emerging in Washington after the reported capture of President Nicolás Maduro by US forces. American lawmakers are now asking whether President Donald Trump has begun selling Venezuelan oil through US financial institutions.

The concerns were raised by five Democratic senators, including Elizabeth Warren and Ron Wyden, who have questioned possible interactions between the Trump administration and major US banks linked to Venezuelan oil transactions.

In a letter sent on January 15, they inquired whether banks such as Bank of America and Citigroup had been approached by Trump to facilitate transactions linked to Venezuelan oil. It must be mentioned that the Trump administration claimed to have already generated substantial revenue.

The US lawmakers underlined the urgency for clarity amid the rapidly evolving situation following the US’s actions against Maduro. They highlighted the administration’s tendency to conceal plans for Venezuelan oil and the associated funds, according to USA Today.

Since the US military operation to seize Maduro on 3 January, Trump has indicated that the US will take control of Venezuela’s vast oil reserves. He has reportedly offered tempting opportunities to US oil executives, inviting them to the White House to discuss the revival of Venezuela’s economy through foreign investment.

The administration reported receiving its first oil sale worth $500 million, with more deals anticipated. A recent Energy Department fact sheet stated that these sales would be deposited in US-controlled accounts at reputable banks to ensure proper distribution.

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An executive order signed by Trump on January 9 termed these funds as “sovereign property of Venezuela held in U.S. custody.” However, the administration has not detailed how the oil sale revenues will be allocated.

Venezuela’s interim president Delcy Rodriguez is reportedly mulling over regulatory reforms to bring foreign investment to Venezuela’s oil sector.