The Trump administration has finalized a groundbreaking $500 million sale of Venezuelan oil, marking a significant step in U.S. energy policy abroad.

This transaction, confirmed by an administration official to the Washington Examiner, comes less than two weeks after President Donald Trump and his Cabinet announced plans to sell Venezuelan oil on the global market indefinitely, with proceeds held in U.S.-controlled accounts.

While the deal has been hailed as a strategic move by the White House, it has also raised questions about the management of funds and the future of Venezuela’s vast oil reserves, prompting discussions on both sides of the political aisle.

Historic Deal Follows Maduro’s Arrest

“President Trump brokered a historic energy deal with Venezuela, immediately following the arrest of narcoterrorist Nicolás Maduro, that will benefit the American and Venezuelan people,” Rogers said, according to the Washington Examiner.

With Venezuela sitting on an estimated 300 billion barrels of oil—the largest reserves in the world—this deal could be a game-changer, though the nation currently pumps less than a million barrels daily, a fraction of top producers.

Funds Held in Qatar for Safety

The proceeds from this $500 million sale are being held in bank accounts controlled by the U.S. government, with the primary account located in Qatar, chosen as a neutral spot to prevent seizure risks, per Semafor.

Trump also signed an executive order on Friday declaring a national emergency to protect these oil revenues, directing some funds into U.S. Treasury accounts. It’s a savvy move to keep the money out of the wrong hands, though one wonders if “neutral” locations are ever truly neutral.

Last week, the Department of Energy outlined that these funds would be disbursed for the benefit of both American and Venezuelan people, but only at the U.S. government’s discretion, leaving the mechanics of that process murky at best.

Plans for Venezuelan Healthcare Support

Venezuela’s interim President Delcy Rodriguez stated earlier this week that part of the oil revenue would bolster the nation’s healthcare system. That’s a noble goal, but with the U.S. holding the purse strings, let’s see if those funds actually reach the intended recipients.

The administration has ambitious plans to sell up to 50 million barrels of sanctioned Venezuelan crude, potentially worth $2.5 billion, and aims to continue sales indefinitely while targeting a 50% production increase within 12 to 18 months.

Yet, some oil executives at companies like Exxon Mobil have expressed skepticism about hitting such an aggressive timeline. When Big Oil raises an eyebrow, it’s usually a sign the road ahead isn’t as smooth as the press releases suggest.

Balancing Power and Promises

Energy Secretary Chris Wright emphasized the shift in policy, stating, “Instead of the oil being blockaded, as it is right now, we’re gonna let the oil flow … to United States refineries and around the world to bring better oil supplies, but have those sales done by the U.S. government.”

It’s a refreshing change from the endless sanctions game, though government-controlled sales often come with strings attached.

Ultimately, this deal could reshape energy dynamics in the Western Hemisphere, countering the influence of adversaries and stabilizing a resource-rich but troubled nation.

But if history teaches us anything, it’s that oil and good intentions don’t always mix well—here’s hoping the administration keeps its eye on the prize without slipping on the slick promises of quick wins.