(Reuters) – The United States has returned to the Venezuelan government all $500 million it received from the first oil sale that was part of a deal reached last month between Caracas and Washington, a U.S. official said on Tuesday.
The final $200 million from the sale was sent to Venezuela, the official said on condition of anonymity. The agreement comes after Venezuelan President Nicolás Maduro was captured in a U.S. military operation on January 3.
“Venezuela has officially received the full $500 million from the first Venezuelan oil sale,” the official said.
The official added that the funds “will be disbursed for the benefit of the Venezuelan people at the discretion of the U.S. government.”
Secretary of State Marco Rubio said in testimony on Capitol Hill last week that U.S. involvement in Venezuelan oil sales is a short-term effort aimed at stabilizing the country, keeping the government afloat and supporting its people.
“Essentially, we allowed Venezuela to use its own oil to generate income, pay teachers, firefighters, police officers and keep the government functioning, so the system didn’t collapse,” he said.
The funds were held in Qatar and were intended as a “temporary, short-term account to ensure that Venezuela receives the funds it needs to operate,” U.S. officials said.
The official added that the long-term goal of any future sale is to transfer the proceeds “to a fund located in the United States and authorize the disbursement of obligations and expenses of the Venezuelan government or its agencies and instruments based on instructions consistent with agreed procedures.”
Report by Steve Holland. Editing: Tom Hogue and Edwina Gibbs
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