The United States has completed the first sales of Venezuelan crude oil under a recently agreed $2 billion energy deal with Caracas, a US administration official told Reuters on Wednesday.
The initial transactions, valued at about $500 million, mark the opening phase of the broader agreement reached earlier this month between Washington and Venezuela’s government.
More oil sales are expected in the coming days and weeks, the official said.
Proceeds from the first sales are being held in bank accounts controlled by the US government, in line with a presidential order issued last Friday, according to the official.
In early January 2026, the US carried out a significant strike on Venezuela that led to the capture of President Nicolás Maduro and his wife, Cilia Flores.
US forces extracted Maduro during a precision operation and transported him to US custody, where he is facing federal charges, including narco‑terrorism and drug trafficking in a New York court.
After the operation, US President Donald Trump stated at a news conference that the United States would oversee aspects of Venezuela’s transition and control its oil assets.
He said US oil companies would be brought in to rebuild the struggling sector and that Venezuela’s oil resources might be treated as US assets to compensate for past losses and damages.
