WorldUpdated 3h ago

State Department report details $12.11 billion in Venezuelan proceeds

Asharq News reported that a State Department report recorded more than $12.1 billion from Venezuelan oil and other natural-resource sales deposited in a U.S. Treasury account during the first nine months of 2026. It said $12.11 billion, nearly 99% of the deposited total, had been disbursed. Most went through foreign-exchange auctions managed by Venezuelan authorities, while $133 million was paid directly to suppliers for services to the Venezuelan government. The report describes the deposited funds as Venezuela’s sovereign property, held pending allocation for public, government or diplomatic purposes determined by the U.S. Secretary of State. A State Department official said the mechanism directed revenue toward essential public services, macroeconomic stability and rebuilding key sectors, including energy, health care and infrastructure. The report presents these as the mechanism’s aims; its accounting does not establish whether they were achieved.

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