# US Handles $12 Billion in Venezuelan Oil Revenues

> Secret report reveals US government managed $12.26 billion in Venezuelan oil funds through a custody account.
- Title: US Handles $12 Billion in Venezuelan Oil Revenues | Shortify
- Summary: Secret report reveals US government managed $12.26 billion in Venezuelan oil funds through a custody account.
- Keywords: us government, venezuela custody account, venezuelan oil revenues, kpmg report, venezuela, venezuelan bolivar, venezuelan government, venezuelan oil, venezuelan natural resources, venezuelan currency, venezuelan inflation, venezuelan economy
- Source: The Boston Globe — https://bostonglobe.com/2026/11/10/world/us-handled-12-billion-venezuelan-oil-revenues-secret-report-shows
- Read time: 1 min
- Topics: us government, venezuela custody account, venezuelan oil revenues, kpmg report, venezuela, venezuelan bolivar, venezuelan government, venezuelan oil, venezuelan natural resources, venezuelan currency, venezuelan inflation, venezuelan economy
## US Revenue from Venezuela
The US government received more than $12 billion in revenue from Venezuela’s natural resource exports in the first nine months of this year.
## Venezuela Custody Account
The report describes the 'Venezuela Custody Account' set up by the Department of the Treasury to manage Venezuelan export revenues after ousting former president Nicolás Maduro.
## Account Activity
The account received $12.26 billion in deposits between January 3 and September 30, with $170 million balance and $12 million interest earned.
## Funds Distribution
The vast majority of funds were distributed back to Venezuela soon after receipt, with $11.7 billion used to prop up the bolivar through foreign currency auctions.
## US Financial Control
US officials controlled the release of funds, requiring state department and treasury approval for each transaction.
## Economic Impact
Venezuela’s inflation is expected to rise nearly 300 percent this year with annual inflation not falling into double digits until at least 2028.
## Current Situation
Democrats now control Congress and are pressuring the Trump administration to describe US actions to prevent corruption in Venezuela after taking control of finances.
## Key takeaway

US handled $12.26 billion in Venezuelan oil revenues via a custody account set up after military intervention in January.