U.S. Markets Venezuelan Oil for Global Benefit

The U.S. has started marketing Venezuelan oil, with proceeds going to U.S.-controlled accounts in global banks. This move involves top commodity marketers and key banks to manage sales and provide financial support, according to a statement from the Department of Energy.

The United States has initiated the marketing of Venezuelan oil, with all financial proceeds directed towards U.S.-administered accounts in internationally recognized banks. This was confirmed in a statement released by the Department of Energy on Wednesday.

The department highlighted its collaboration with the world's leading commodity marketers and essential financial institutions to execute these transactions successfully. They aim to ensure the seamless sale of crude oil and related products.

This development signifies a strategic approach towards managing Venezuelan crude amidst global financial structures, reflecting ongoing efforts to integrate such commodities into broader markets.

(With inputs from agencies.)