14-November-2026
Corporate News
 
US returns over $12 billion in oil proceeds to Venezuela since Maduro's ouster, report says
13-Nov-2026

The Trump administration says it has returned more than $12 billion, or almost 99%, of the revenue obtained from the sales of Venezuelan oil since it ousted then-President Nicolas Maduro in January. In a report released Thursday by the State Department, the accounting firm KPMG said the sales of Venezuelan crude, along with minor amounts of gold, minerals and fertilizer, produced $12.26 billion. Almost all of the money has been returned to Venezuela under the terms of a broad energy deal reached with the country's interim authorities, according to the report. As of Sept. 30, the end of the 2026 budget year, $168.6 million remained in an escrow account managed by the U.S. Treasury Department, the report said.

News Source:- https://economictimes.indiatimes.com/industry/energy/oil-gas/us-returns-over-12-billion-in-venezuelan-oil-revenue-after-maduros-ouster/articleshow/135786327.cms