Marco Rubio says “the needs of the Venezuelan people can be met” with Venezuela’s own oil revenue

After the U.S. military operation in Venezuela in early January 2026, the two governments struck an arrangement that gave the U.S. Treasury control over Venezuelan oil revenues. Secretary of State Marco Rubio, testifying before Congress, described the funds as Venezuela’s own and said the United States would handle them in a way that benefited the Venezuelan public. The deal has come under bipartisan scrutiny: promised quarterly audits have not been delivered to Congress, and Venezuela’s public disclosure site shows only a single transaction. The Financial Times estimates more than $13 billion has moved through the system; President Trump said the true amount is even larger. The secrecy underscores how U.S. sanctions authority can exert broad financial control over another country without clear accountability.