The US returned $500 million to Venezuela for oil

The United States has transferred a total of $500 million to the Venezuelan government from the first sale of Venezuelan oil, which was part of an agreement between Caracas and Washington concluded last month.

According to an unnamed US official, the final tranche of $200 million was sent this week.

The agreement was reached after Venezuelan President Nicolás Maduro was detained on January 3 as part of a US military operation. According to the US, the money is to be used for the benefit of the Venezuelan people, with its specific use remaining at the discretion of the US government.

Foreign Minister Marco Rubio emphasized in Congress last week that this is a short-term solution aimed at stabilizing the country and preventing the collapse of state institutions.

Oil revenues are to help finance the basic functioning of the state, including the salaries of teachers, firefighters, and police officers. The funds have been temporarily deposited in Qatar, but in the future, the US plans to transfer the proceeds from oil sales to a fund under US administration.

(reuters, mja)