The United States has kicked off sales of Venezuelan oil for the first time under a big new agreement. The first deals brought in about $500 million.
This happened just days ago, in mid-January 2026. It is part of a larger $2 billion plan between Washington and Caracas. More sales are coming soon, say officials.
The money from these early sales sits in special bank accounts. The main one is in Qatar. US authorities keep close watch over the funds. This setup keeps the cash safe and under control.
President Donald Trump called it a historic energy deal. He said it will help both the American and Venezuelan people. White House spokesperson Taylor Rogers added that the US is working with oil companies ready to invest big in Venezuela’s old oil systems.
Trump even shared on Truth Social about a good phone call with Delcy Rodrรญguez, Venezuela’s interim president. They talked about oil, minerals, trade, and security. Trump said the two countries will build a strong alliance. He believes Venezuela can become great and rich again, maybe more than before.
This change comes after big events in Venezuela. Nicolรกs Maduro was captured earlier this month. That opened the door for new talks and deals. The US has long kept strong sanctions on Venezuelan oil. Those rules aimed to push for changes in the country. Now, the government is letting some sanctioned oil flow out. US companies will help fix and grow the oil fields.
Companies like Chevron are already active there. They have tankers moving crude. Other names like Vitol and Trafigura joined in to help sell the oil. Venezuelan crude, called Merey-16, is now reaching US Gulf Coast refineries. It sells at a good price compared to some Canadian oil.
Not everyone is fully on board yet. The head of ExxonMobil, Darren Woods, said going back to Venezuela needs real changes in laws and business rules. He called the country hard to invest in without those fixes.
Still, the plan moves fast. The US will sell between 30 and 50 million barrels in the coming months. Profits will go to help Venezuelans, US firms, and the government. Any money heading to Venezuela must buy only American-made goods.
This is a major shift in energy and politics. It could bring more oil to the market and give Venezuela a chance to rebuild. People are watching closely to see how it plays out in the weeks ahead.
Experts say it might lower some oil prices here at home. It also shows how fast things can change after big political moves. For now, the first $500 million is just the start of what could be a long-term partnership. Keep an eye on this story โ it’s changing the oil world right now.