U.S. Treasury Takes Charge of Venezuelan Oil Proceeds

The U.S. now directly manages proceeds from Venezuelan oil sales, shifting from a fund in Qatar to accounts with the U.S. Treasury Department. This move, following a recent executive order, aims to protect Venezuela's funds from creditors amidst ongoing accumulation of debt to various stakeholders.

The U.S. government has redirected the flow of Venezuelan oil proceeds from a Qatari fund to accounts managed by its Treasury Department, according to Secretary of Energy Chris Wright.

This strategic rerouting, aligned with a U.S. executive order, is designed to safeguard Venezuelan assets from creditors seeking repayment as Venezuela's financial obligations continue to grow.

Wright, speaking to reporters, also mentioned that while President Trump has no immediate plans to visit Venezuela, such a trip remains a future possibility.

(With inputs from agencies.)