Billions in revenue from Venezuelan oil has gone missing—and the Trump administration keeps changing its story.
The Trump administration has raked in about $13 billion after taking over Venezuela’s oil exports in the wake of its kidnapping of President Nicolás Maduro, according to a Financial Times analysis. But six months later, and one month after two devastating earthquakes, that money is nowhere to be found.
When Trump first seized the “millions of barrels” of oil back in January, he assumed complete control. His administration eventually proclaimed that it would use any profit from the sales for “the benefit of the American people and the Venezuelan people.” The State Department has since claimed that “billions of dollars have been disbursed to the Venezuelan economy” and that “financial monitoring is under way to ensure funds benefit the Venezuelan people.”
But none of that has been proven to be true. The Financial Times reported Wednesday that there has been no evidence of oil money going back into the hands of the Venezuelans Trump claimed to care for, and that Venezuela’s first-quarter gross domestic product was the lowest it’s been in five years.