The United States has completed its first sale of Venezuelan oil, valued at around $500 million, a government official confirmed on Wednesday. This marks an important step in a new energy arrangement between Washington and Caracas.
Officials said the money earned from this first sale is being kept in bank accounts controlled by the United States.
The main account holding the funds is located in Qatar, which was chosen as a neutral location. This setup is meant to ensure transparency and proper oversight of the revenue while discussions between the two countries continue.
More oil sales are expected in the coming days and weeks as part of the wider agreement. The deal is seen as a move toward improving energy cooperation and easing long-standing tensions between the United States and Venezuela. It also opens the door for future economic engagement.
White House officials said the arrangement is expected to benefit both American and Venezuelan people. For the United States, the deal helps stabilize energy supplies and support global oil markets. For Venezuela, it could bring much-needed revenue and renewed interest in its oil sector.
The agreement is also linked to talks with energy companies that are willing to invest in rebuilding Venezuela’s oil infrastructure. Years of limited investment have reduced the country’s production capacity, and officials believe fresh funding and technical support could help restore output.
By holding the funds in U.S.-controlled accounts, the administration aims to ensure that the money is used according to agreed terms.
Officials described the first sale as a positive early result of the broader energy deal and said it could lead to deeper cooperation if progress continues.
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