The United States has officially commenced the sale of Venezuelan oil.

The United States has formally initiated the sale of Venezuelan oil, marking a historic step in Washington’s management of the South American nation’s energy resources. According to a senior US administrative official, the first shipment has already been sold for approximately $500 million — roughly 6,100 crore Bangladeshi Taka. However, the identities of the buyers remain undisclosed.

The news was reported on Thursday by CNN and Time magazine. In a statement to Time, White House spokesperson Taylor Rogers emphasised the historic nature of the move, saying:

“Following the apprehension of Venezuela’s drug-trafficking leader Nicolás Maduro, President Trump promptly enacted an unprecedented energy agreement with the country. This accord will serve the interests of both the United States and the people of Venezuela.”

Rogers further noted that US oil companies willing to make “unprecedented investments” to revitalise Venezuela’s energy infrastructure are in ongoing discussions with the administration. He added:

“President Trump is ensuring the protection of our hemisphere from drug-traffickers, terrorists, and foreign adversaries.”

Officials expect further sales in the coming days and weeks. The first reports of the sale were published by New York-based international media outlet Semafor, which noted that a portion of the proceeds has been deposited in US government-controlled bank accounts, including one in Qatar. Semafor reported that Qatar was chosen due to its “liberal monetary policies,” which reduce complications in financial transfers.

Since seizing control of Venezuelan oil reserves following Maduro’s detention, President Trump has declared that the United States will effectively manage the country until a “fair and lawful transfer of power” occurs. Last week, US Secretary of State Marco Rubio stated that Washington plans to seize and sell 50 million barrels of Venezuelan crude, with proceeds directly allocated by the US government. He stressed that these funds would be used exclusively for the welfare of the Venezuelan people, preventing misuse by corrupt officials.

Trump also announced that US oil firms are expected to invest at least $100 billion to rebuild Venezuela’s ailing energy sector. However, details on which companies will participate or the exact distribution of investment remain unclear.

Some representatives of the US energy sector have expressed caution. ExxonMobil CEO Darren Woods told the White House:

“Venezuela’s energy sector is not currently investment-ready. Legal and commercial frameworks must first be established. We need clarity on potential returns before committing.”

Despite high-level discussions and meetings at the White House, no company has yet formally pledged large-scale investments in Caracas.

Summary Table: Venezuelan Oil Sale to the United States

This expanded version clarifies the financial, political, and strategic aspects of the deal, contextualises the US’s role in Venezuela, and provides a structured summary for readers.