$3 Billion Promised to Venezuela. $300 Million Showed Up.

I am writing to urge Congress to immediately exercise its constitutional oversight authority and demand a complete, transparent, and independent accounting of the more than $13 billion in Venezuelan oil sales currently managed under U.S. supervision. The administration confirmed the U.S. has collected over $13 billion from Venezuelan crude oil sales following the January 2026 military action and capture of former President Nicolás Maduro. Executive policy dictates these revenues remain the sovereign property of Venezuela, held by the United States solely in a custodial capacity within a Treasury-managed account. Despite this legal framing, severe discrepancies surround these disbursements: State Department officials reported to Congress that roughly $3 billion had been disbursed to Venezuela for essential operations, yet Venezuela's public tracking portal documents only a single transfer of $300 million. That leaves an unexplained $2.7 billion gap. Furthermore, promised quarterly public reports have failed to materialize, and commitments to provide underlying audit data remain unfulfilled. This opacity is compounded by official statements suggesting custodial proceeds have been used to offset military operational costs, alongside proposals to redirect future revenues to the U.S. military. Managing billions in custodial revenues without rigorous oversight undermines American credibility, violates basic fiscal integrity, and deprives the Venezuelan people of resources essential for basic infrastructure and disaster recovery. I urge you to take three immediate oversight actions: 1. Enforce Reporting Commitments: Compel the Department of State to immediately release all overdue quarterly reports and underlying audit data promised to congressional committees. 2. Expedite Independent Review: Support and accelerate the Government Accountability Office's (GAO) ongoing investigation to establish an independent verification of total sales, deductions, and remaining account balances. 3. Establish Binding Guardrails: Subpoena full Treasury and State financial ledgers and enact binding statutory guardrails prohibiting the diversion of custodial revenues to military or unauthorized uses. Constituents expect complete transparency, strict fiscal accountability, and lawful management of all sovereign funds held under U.S. authority.