"An estimated $500 million from the first Venezuelan oil sales has already been deposited in U.S.-controlled accounts, but that could be the tip of the iceberg as American officials seek to broker sales of up to 50 million barrels of oil. CNN and Reuters both confirmed the use of Qatari accounts, which was first reported by Semafor. It's not clear what the money will be used for or who will decide how to allocate it."
"Trump has said he will use the money as he sees fit to stabilize Venezuela's economy as part of a larger plan to run the country indefinitely, apparently while leaving Maduro's former vice president Delcy Rodriguez in power. The murky arrangement is likely to draw criticism and legal action from critics who say the money should be going directly into U.S. coffers or handled in a much more transparent way."
"There is no basis in law for a president to set up an offshore account that he controls so that he can sell assets seized by the American military, Sen. Elizabeth Warren (D-Massachusetts) told Semafor. Underlining the high stakes, U.S. forces in the Caribbean Sea seized another oil tanker with alleged ties to Venezuela, the sixth such seizure since the self-imposed embargo began last year."
Millions from Venezuelan oil sales have been placed in Qatari bank accounts connected to U.S.-controlled arrangements after the ouster of President Nicolás Maduro. Roughly $500 million from initial sales is already deposited, and U.S. officials are pursuing potential sales totaling up to 50 million barrels. The purpose, control, and allocation of the funds remain unclear, prompting concerns about keeping proceeds from Venezuelan creditors, executive authority to manage seized assets, and lack of congressional oversight. The arrangement has drawn political and legal scrutiny, coinciding with additional U.S. seizures of tankers linked to Venezuela and high-level meetings with opposition figures.
Read at www.mercurynews.com
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