Overview
- The White House said the initial $500 million sale of Venezuelan crude has closed, with the revenue routed to a Qatari bank account rather than U.S. banks or direct transfers to Caracas.
- Treasury Secretary Scott Bessent said money would begin reaching Venezuela as soon as Thursday, and local banking signals suggested inflows were starting.
- President Trump issued an executive order stating liens, garnishments, and other legal judgments against the oil proceeds are blocked to protect the funds.
- Economist Alejandro Grisanti said Qatari banks were instructed to auction the funds to Venezuelan banks with priority for food, medicine, and small businesses, to be collected by the Central Bank of Venezuela under U.S. requirements.
- Energy Secretary Chris Wright said the U.S. is realizing about 30% higher prices on sales, while critics including Sen. Elizabeth Warren questioned the transparency and legal basis of the offshore arrangement.