Trump says Venezuela oil sales have topped $13 billion

Trump Venezuela oil sales have brought in more than $13 billion this year, President Donald Trump said Monday, putting a fresh figure on a program that has drawn scrutiny from Democrats in Congress. The president said the amount may exceed that level after the U.S. took control of Venezuela’s oil exports following the Jan. 3 capture of former President Nicolas Maduro in a military raid.

Trump made the comments to reporters aboard Air Force One while traveling to Michigan for a visit to a General Motors facility, according to CNBC. Asked about a Financial Times estimate of proceeds collected by his administration, Trump said, “$13 billion from Venezuela? I think even more than that,” and added that the receipts had paid for the war “many times over.”

CNBC reported that the U.S. seized control of Venezuelan oil exports after Maduro was captured. Energy Secretary Chris Wright told Semafor in an April interview that the U.S. had sold about 150 million barrels of Venezuelan oil since January.

How much Venezuelan oil has the U.S. sold?

The public figures cited so far come from administration comments rather than a full accounting. Trump put proceeds at more than $13 billion, while Wright previously said sales had reached roughly 150 million barrels since the beginning of the year.

The two figures describe different parts of the program. The barrel count refers to the volume of oil sold, while the dollar amount refers to the revenue Trump said the U.S. has collected from those sales. Neither Trump’s comments nor Wright’s April interview provided a detailed breakdown of buyers, prices, costs, or net proceeds.

Oil export control, as described in the reports, means the U.S. government assumed authority over the sale of Venezuelan crude abroad after Maduro’s capture. In practical terms, proceeds from cargoes sold under that control would be collected by the administration rather than by the former Venezuelan government structure.

Congress is pressing for details

Democrats in Congress have asked the Trump administration to disclose how much money has been raised, how it is being used, and what monitoring systems govern the program, according to CNBC. Those questions go to fiscal oversight as well as the management of a foreign resource stream under U.S. control.

The administration has not, based on the available reporting, released a comprehensive public statement setting out the program’s receipts and expenditures. Trump’s latest remarks provide the clearest top-line figure from the president, but they do not answer lawmakers’ questions about spending channels or safeguards.

The sales also carry implications for oil markets because Venezuelan crude is a material export stream and U.S. control changes who directs its commercial flows. The available reporting does not state how the sales have affected prices, refiners, or global supply balances.

CNBC described the situation as developing, indicating that further details may emerge on the administration’s accounting and congressional oversight of the Venezuelan oil proceeds.

This story draws on original reporting from CNBC.