President Donald Trump is funneling proceeds from the sale of Venezuelan oil to a bank account in Qatar, Semafor reported on Wednesday.
PresidentĀ Donald TrumpĀ is funneling proceeds from the sale of Venezuelan oil to a bank account in Qatar, Semafor reported on Wednesday.
This month, Trump ordered an invasion of Venezuela and the abduction of PresidentĀ Nicolas Maduro, who was whisked to the U.S. to face federal drug traffickingĀ charges. The move was the culmination of a months-long campaign of aggression against Venezuela, boats from which were bombed by the U.S. for allegedly carrying drugs. The U.S. also seized two oil tankers from the country. After the invasion, TrumpĀ saidĀ that āweāre going to keep the oil.ā
SemaforĀ reportedĀ that the Trump administrationās first sale of Venezuelan oil was valued at $500 million, and that the money is being held in multiple bank accounts, the biggest of which is in Qatar:
Revenue from the oil sales is currently being held in bank accounts controlled by the US government, as indicated in Fridayās order, according to the administration official. The main account, according to a second senior administration official, is located in Qatar. The second official described Qatar as a neutral location where money can flow freely with US approval and without risk of seizure. Trumpās order noted that at least some of the revenue would be held in US Treasury accounts.
It is unclear why money held in Qatar would be at less of a ārisk of seizureā than money held in a bank account in the U.S. Furthermore, it is not clear who or what the Trump administration believes might try to seize ā or freeze ā the cash.
āThere is no basis in law for a president to set up an offshore account that he controls so that he can sell assets seized by the American military,ā Sen.Ā Elizabeth WarrenĀ (D-MA), the ranking member of the Senate Finance Committee, told Semafor. āThat is precisely a move that a corrupt politician would be attracted to.ā
