US to Control Venezuelan Oil Sales and Revenues
The US announced plans to control Venezuelan oil sales and revenues, marking a significant policy shift. This comes after a $2 billion crude export deal was reached with Caracas.
Insights:
In a significant shift in energy policy, the US Department of Energy, led by Energy Secretary Chris Wright chris wright, announced that the United States will take direct control over Venezuelan oil sales, production, and revenues. This strategic move represents a departure from the previous sanctions-based approach, aiming to manage all proceeds from Venezuelan oil exports to US refineries and global markets. The announcement was made at the Goldman Sachs Energy, CleanTech & Utilities Conference on January 7, 2026.
