The United States announces indefinite takeover of Venezuela’s oil sales, marking the post-Maduro era with sovereignty placed under financial trusteeship, reshuffling the capital markets and geopolitical landscape
(Background: What is the “Petro” issued by Maduro? Fighting US sanctions on Venezuela, ending up as the biggest joke in cryptocurrency history)
(Additional background: Breaking news》US Pentagon’s “Pizza Index” surges again, Colombia and Cuba as next targets?)

Table of Contents

• Outline of the takeover mechanism
• The rise and fall of industry players
• Financial leverage and political chips
• Trump’s statement on income to buy “Made in USA”

The US government brings debt restructuring language onto the geopolitical stage. On January 7, at a Goldman Sachs conference in Miami, US Energy Secretary Chris Wright calmly announced: Washington will indefinitely take over Venezuela’s crude oil sales and revenue, depositing the proceeds into a trust account controlled by the US Treasury. This declaration marks the end of the Maduro era in Venezuela, ushering in a regime appointed by the US as “Chief Financial Officer.”

Outline of the takeover mechanism

According to Bloomberg reports, the first batch of 50 million barrels of inventory is valued at approximately $2.8 billion. Crude oil will be coordinated by the Department of Energy, working with top commodity traders to sell to the market; funds will flow directly into US accounts, and Caracas will receive not a penny. Wright emphasized that profits will “preferably be used for humanitarian aid and infrastructure,” with historical debts temporarily queued. The policy signal is clear: maintaining oil flow is more urgent than settling old debts.

To plug the loopholes, the US military has implemented substantial maritime law enforcement in the Caribbean, seizing Russian oil tankers attempting to bypass sanctions. These tough actions temporarily lowered international oil prices by 1.5%, to $60 per barrel. However, academia warns that Venezuela’s oil fields and pipelines are in disrepair, with infrastructure rebuilding costing $10 billion annually and taking ten years.

The rise and fall of industry players

Industry rankings are reshuffling. The Los Angeles Times pointed out that Chevron (Chevron), maintaining OFAC licenses and continuing cooperation with PDVSA, now holds a leading position; ExxonMobil and ConocoPhillips, whose assets were confiscated during the Chavéz era, now only receive symbolic compensation. Market information indicates that Washington values stable production far more than recovering old debts, with Chevron taking the first “risk premium” harvest.

For commodity traders, DOE trust accounts are equivalent to a “no implied guarantee” pass. Capital flows, risk sharing, and pricing power are all pulled back to Washington, tilting the bargaining balance in Latin America’s oil market.

Financial leverage and political chips

Venezuela still holds the world’s largest proven oil reserves but has long since fallen from a peak daily production of 3.5 million barrels to about 1 million barrels. Wright publicly stated:

“We want Venezuela’s oil to flow again, but the proceeds must be deposited into US accounts. This is a huge opportunity to rebuild the country and benefit the peoples of both nations.”

Using oil revenue for reform turns sovereign assets into financial levers that can be tightened or loosened at any time. If Venezuela’s political transition aligns with Washington’s expectations, funds can be released; if not, accounts are immediately frozen. Buyers outside Washington’s protection face sanctions risks, and market choices are thus being redefined.

Trump’s statement on income to buy “Made in USA”

On the 7th, Trump posted on Truth Social that the funds from the oil agreement between Venezuela and Washington will be fully used to purchase “Made in USA” products. According to NBC, PDVSA, Venezuela’s state oil company, is in negotiations with the US regarding crude oil sales within the framework of the bilateral relationship.

I just learned that Venezuela will use the income from their new oil deal with us to buy only American-made products. These purchases will include US agricultural products, pharmaceuticals, medical equipment, and supplies to improve Venezuela’s power grid and energy infrastructure. In other words, Venezuela is promising to partner mainly with the US, which is good for both Venezuela and the American people.