Amanze Chinonye
Venezuela’s interim president, Delcy Rodríguez, has defended recent crude oil sales to the United States as strictly commercial transactions conducted through the state oil company, Petróleos de Venezuela, S.A. (PDVSA), insisting that pricing mechanisms follow international norms and that proceeds are being properly managed for Venezuela’s benefit.
Rodríguez’s remarks come amid a major shift in Venezuelan oil exports following adjustments to U.S. policy that have allowed crude shipments to resume after years of severe sanctions.
U.S.-Overseen Sales Generate Billions
U.S. Energy Secretary Chris Wright on Thursday disclosed that oil sales from Venezuela overseen by the United States have already generated more than $1 billion in revenue, with projections that an additional $5 billion could accrue in the coming months.
Join our WhatsApp ChannelThe crude is being processed in U.S. refineries, marking a significant rebound from previous years when sanctions reduced Venezuelan oil exports to the United States to near zero.
Industry data indicate that shipments of Venezuelan crude to U.S. buyers have increased sharply since late 2025, reflecting the partial easing of restrictions and new licensing frameworks that allow certain transactions involving PDVSA.
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Revenue Management and Oversight
While Rodríguez maintains that all proceeds are being used correctly within Venezuela, the revenue-handling framework has attracted international attention.
Initial sales, including an early tranche reportedly valued at around $500 million, were structured in a way that placed proceeds under monitored financial arrangements. Venezuelan officials later announced that approximately $300 million from the first wave of sales had been transferred into the domestic financial system to stabilise currency markets and support economic needs.
U.S. officials have emphasised that the current structure includes safeguards designed to ensure transparency in how funds are managed. Some U.S. lawmakers have also sought assurances that revenues ultimately serve the Venezuelan public and are not diverted through opaque channels.
Sanctions Relief and Sector Recovery
Venezuela holds some of the world’s largest proven crude reserves, but production and exports declined sharply after sanctions imposed from 2019 significantly restricted international trade.
Recent policy adjustments by Washington have authorised limited oil transactions and created pathways for increased exports. Analysts say the revival of oil flows is essential for stabilising Venezuela’s economy, though they caution that long-term recovery will depend on sustained investment, infrastructure upgrades and regulatory reforms.
Rodríguez has framed the renewed oil trade with the United States as a sovereign commercial relationship conducted under international standards. However, the broader arrangement remains closely tied to political negotiations and evolving U.S. foreign policy toward Caracas.
As exports rise and revenues accumulate, attention is likely to remain fixed on how the funds are administered and whether the new framework can deliver lasting economic improvement for Venezuela.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
