President Donald Trump confirmed Monday that the United States has sold more than $13 billion worth of Venezuelan oil since his administration took control of the South American nation’s energy exports earlier this year.
The president made the remarks aboard Air Force One while traveling to Michigan to tour a General Motors facility. He was responding to a question about recent reporting by the Financial Times, which estimated that his administration has collected around $13 billion in revenue from the oil sales program this year.
“$13 billion from Venezuela? I think even more than that,” Trump told reporters. “We’ve paid for that war many times over.”
The U.S. assumed control of Venezuela’s energy exports following the overthrow of former President Nicolas Maduro in January. Since then, the administration has operated a sales program for Venezuelan crude, though details about the program’s operations and revenue distribution have remained largely opaque.
Sales Volume and Congressional Scrutiny
According to Semafor, Energy Secretary Chris Wright disclosed in an April interview that the U.S. had sold around 150 million barrels of Venezuelan oil since January. That figure provides some context for the revenue numbers Trump cited Monday.
The lack of transparency around the Venezuelan oil sales program has drawn criticism from Democrats in Congress, who have pressed the administration to provide more detailed information. Lawmakers have specifically requested disclosure on how much money has been collected from the sales, how those funds are being spent, and what monitoring mechanisms are in place to ensure proper oversight of the program.
Trump’s comments Monday represent one of the most direct confirmations yet of the program’s financial scope, though the president suggested the actual revenue may exceed the $13 billion figure reported by the Financial Times.
The administration has not provided a comprehensive public accounting of the Venezuelan oil revenue or detailed how it plans to use the funds. The president’s reference to paying for “that war” suggests at least some portion of the proceeds has been allocated to military or security-related expenditures, though he did not elaborate on specific uses.
The Venezuelan oil sales program represents a significant shift in U.S. energy policy and international relations in the region. Venezuela has historically been a major oil producer, with the world’s largest proven crude reserves, though production had declined significantly under Maduro’s government due to underinvestment and sanctions.
Source: www.cnbc.com — https://www.cnbc.com/2026/07/27/trump-says-us-has-sold-more-than-13-billion-of-venezuela-oil-.html
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