The Trump administration will begin allowing Venezuela to sell oil subject to U.S. sanctions in the near future with the revenue initially going to specific government services subject to Washington’s oversight.
Secretary of State Marco Rubio offered insight into the administration’s strategy for handling the sale of Venezuelan oil and what will happen with the money from sales during Wednesday’s Senate Foreign Relations Committee hearing.
“The funds from that will be deposited into an account that we will have oversight over,” Rubio told senators, adding that the U.S. Treasury would control the process and that they will ensure Caracas “spend[s] that money for the benefit of the Venezuelan people.”
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The Venezuelan government will submit a budget to Washington of the funds it needs every month for
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