Investigate President’s Authority For Venezuelan Oil Sales & Funds Held In Qatar

Recent reporting confirms that the United States has completed its first Venezuelan oil sales valued at approximately $500 million, with proceeds being held in U.S.-controlled accounts, including a principal account located in Qatar. This arrangement raises serious concerns about transparency, legal authority, and congressional oversight. If the executive branch is exercising control over these funds, Congress must ensure that this control is lawful, accountable, and subject to U.S. regulatory standards rather than being shielded by placement in a foreign country. On January 9, 2026, the President issued Executive Order 14373, declaring a national emergency to safeguard Venezuelan oil revenue by defining it as “Foreign Government Deposit Funds,” blocking judicial attachment, and restricting transfers except as authorized. While the Order protects these funds from seizure, it does not itself establish clear statutory authority for the United States to sell Venezuelan oil or to retain and direct its proceeds. It also does not require that the funds be placed in Qatar or in any other foreign country. Critical Facts Congress Must Establish Congress should require a full and itemized accounting of all Venezuelan oil proceeds, including the names of financial institutions, account types, balances, interest accrued, and the identities of U.S. officials authorized to approve sales, transfers, or disbursements. Congress must also demand a written legal justification explaining the statutory authority under which the executive branch claims the power to sell Venezuelan oil and manage its revenue. It is essential to clarify why these funds are being held in Qatar rather than in U.S.-domiciled, federally regulated institutions, and whether such foreign placement is consistent with the custodial framework outlined in Executive Order 14373. Bring the Funds Under Domestic Legal Oversight If these funds are under U.S. control, they should be held in U.S. Treasury or similarly regulated domestic accounts, subject to congressional reporting, audit requirements, and routine oversight. Housing these funds in Qatar creates unnecessary legal ambiguity, weakens transparency, and diminishes Congress’s ability to perform its constitutional oversight role. Actions Congress Must Take to Restore Accountability Congress should press for formal oversight hearings and classified and unclassified briefings from the Departments of Treasury, State, Energy, and Justice regarding the decision to place these funds in Qatar, the legal authority for the oil sales, and the procedures governing control of the proceeds. Congress should request a Government Accountability Office review and a Treasury Inspector General investigation. Regular public reporting should be required until every dollar is fully accounted for and held under U.S. legal supervision consistent with American law and oversight norms.