Venezuela: Oil Revenue to Be Deposited Directly into US Accounts

Venezuela's oil export revenues will be deposited directly into accounts managed by the US Treasury Department, according to US Energy Secretary Chris Wright.

Wright stated that revenues from Venezuelan crude oil sales are expected to reach $2 billion in the coming days. This policy change follows a US executive order aimed at protecting revenues from creditors.

After US armed forces arrested and removed Nicolás Maduro from office in January, the US has taken control of the country's oil exports. Revenues were initially deposited into an account in Qatar.

Wright, who visited Venezuela earlier this month, urged US companies to invest in the country's energy industry. The Venezuelan government has presented investment plans, including repairing the electricity grid.

Donald Trump currently has no plans to visit Venezuela, but it is a realistic possibility, according to Wright.