The Trump administration has earned $13 billion in oil revenue from Venezuela. The fate of the money is unknown

The Trump administration has collected about $13 billion from Venezuela’s oil exports since taking control of the country’s oil reserves, but six months later the money has disappeared.

According to an analysis by the Financial Times, the situation raises questions about the transparency of the use of the money and the administration’s previous promises. When the Trump administration seized Venezuela’s oil reserves in January, it promised to channel the proceeds to benefit both the American and Venezuelan people. The US State Department has claimed that billions of dollars have been channeled into the Venezuelan economy and that the funds are being monitored to ensure they reach the Venezuelan people.

However, no evidence has been provided to support these claims. There is no evidence that oil revenues are reaching Venezuelans. Moreover, Venezuela’s first-quarter gross domestic product (GDP) was at its lowest level in five years. Oil accounts for nearly a quarter of the country’s total GDP, making the loss of revenue a particularly severe blow.

Both Democrats and Republicans have demanded clarity. Democratic House member Joaquin Castro told the Financial Times that Trump’s dealings in Venezuela have been about oil, power and corruption from the start, and that the administration has kept Congress in the dark. On Tuesday, Republican House member María Elvira Salazar also called on Trump to disclose the transactions.

The FT article also highlights earlier information from media outlet Semafor that Trump intended to keep the proceeds of the first $500 million sale in an offshore bank account in Qatar.