US releases report on $12bn from Venezuelan oil, mineral resources

The disclosure is part of an effort to “promote transparency and accountability in the management of these funds”, says the 53-page report, released on Thursday. In January, US forces conducted a raid on the Venezuelan capital of Caracas, capturing Maduro and his wife and bringing them to New York City, where they are currently facing charges related to drug trafficking and torture.

Since removing Maduro from power, the Trump administration has sought to directly control who buys natural resources from Venezuela and who earns profits from those sales. US President Donald Trump issued an executive order in January establishing special bank accounts that would hold revenue from those transactions, to be eventually distributed back to Venezuela in a controlled manner.

Trump has made Venezuela a central part of his political narrative, touting the revenue he said the US would receive from sales of the country’s oil during election campaigning in the run-up to the midterm elections that were held earlier this month.