The Fate of Venezuela's $13 Billion Oil Revenue

There are significant question marks surrounding the management of Venezuela's oil revenues. According to an analysis by the Financial Times, the Trump administration has collected over $13 billion from Venezuela's oil sales this year. However, there is a lack of transparency regarding how this money is being used. Since January, there have been approximately $11.5 billion in shipments. However, because the data does not cover all types of Venezuelan crude, past price models were used to estimate the value of the remaining shipments, bringing the total above $13 billion. Six months after the US took control of Venezuela's oil exports, the economic impact appears to be limited. This has raised concerns that not all of the revenue from oil sales may have been returned to Caracas. The country is 'struggling to show signs of economic recovery', and this issue is being increasingly examined by economists and lawmakers. The contradictory statements have led lawmakers from both parties to demand more transparency regarding the funds and their distribution.