AP Photo/Evan Vucci, Pool
President Donald Trump 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 President Nicolas Maduro, who was whisked to the U.S. to face federal drug trafficking 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, Trump said that “we’re going to keep the oil.”
Semafor reported that the Trump administration’s 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 Friday’s 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. Trump’s 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 “risk of seizure” 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 – or freeze – the cash.
“There 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,” Sen. Elizabeth Warren (D-MA), the ranking member of the Senate Finance Committee, told Semafor. “That is precisely a move that a corrupt politician would be attracted to.”
In May, the Qatari royal family gave Trump a $400 million luxury plane. The gift came as Trump’s family business had secured a deal to build a golf resort in the oil-rich country.
