Democrats want Venezuelan oil revenue details
The Trump administration is under increasing pressure to answer questions about the management of Venezuela’s oil revenue.
House Oversight Committee Democrats have sent letters to the Treasury, Energy and State departments seeking details on how the U.S. has managed Venezuela’s oil revenue, which the Trump administration claimed amounted to $13 billion. Rep. Robert Garcia, the top Democrat on the committee, stated that if the administration has nothing to hide, it should provide transparency and answers that the American people deserve.
Treasury officials have assured panel Democrats that the funds will be released for approved purposes and have made disbursements "quickly." However, Energy and State departments have yet to respond to requests for comment. According to a US official, the U.S. government has been working with the Venezuelan government since January to disperse funds for official expenditures and ensure liquidity in the Venezuelan system.
Compliance monitoring is in place to ensure the funds benefit the Venezuelan people, but the official noted that funds have been available to the government without delay. Despite the committee's inquiries being non-compellable, they serve as a roadmap for potential investigations if Democrats take the majority in the upcoming fall elections.
Since January, Venezuela's oil exports and production have grown by 46% and 27%, respectively. However, the administration has not provided figures on how much revenue has been collected and disbursed.
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