Trump controls Venezuelan oil revenue outside Congress

Energy Secretary Chris Wright visited Venezuela on Feb. 11-12, 2026, meeting acting President DRDelcy Rodríguez at Miraflores Palace and touring Petropiar and Petroindependencia oil facilities in Anzoátegui State. This was the highest-level U.S. energy visit to Venezuela in nearly three decades and the first Trump Cabinet member to visit since U.S. forces captured President Nicolás Maduro on Jan. 3, 2026.

Wright announced that over $1 billion in Venezuelan oil sales had been completed since January, with short-term agreements for another $5 billion. He said the initial $500 million went to a Qatar-based account before being transferred to a U.S. Treasury account. Wright told NBC News that oil revenue would fund Venezuelan infrastructure projects and humanitarian aid, but no finalized audit mechanism exists.

President Trump stated on Truth Social that the oil money "will be controlled by me, as President of the United States of America." This directly conflicts with Article I, Section 9, Clause 7 of the Constitution—the Appropriations Clause—which grants only Congress the power to authorize spending of public funds.

Rep. Thomas Massie (R-KY) called the arrangement unconstitutional, stating "selling stolen oil and putting billions of dollars in a bank in Qatar to be spent without Congressional approval is not Constitutional. Only Congress can appropriate money. The president can't legally create a second Treasury overseas for his own piggy bank."

Senate Democratic Leader CSChuck Schumer (D-NY) and Sen. ASAdam Schiff (D-CA) introduced the Venezuela Oil Proceeds Transparency Act on Feb. 12, directing the Government Accountability Office to audit the offshore oil financial arrangement and requiring immediate congressional notification if the administration delays access to records.

Venezuela's National Assembly unanimously approved a reform of the Organic Hydrocarbons Law on Jan. 29, 2026, fast-tracked in one week. The reform allows private companies to directly explore, extract, and market oil; introduces international arbitration for disputes; and sets flexible royalties capped at 30%. This was the most extensive concession to private investment since Venezuela nationalized its oil sector in 1976.

The Treasury Department's Office of Foreign Assets Control (OFAC) issued seven general licenses between Jan. 29 and Feb. 10 to enable U.S. entities to lift, export, sell, and refine Venezuelan crude. These licenses explicitly exclude transactions involving entities linked to China, Russia, Iran, North Korea, or Cuba, though Wright acknowledged China has already bought some Venezuelan crude sold by the U.S.

A bipartisan War Powers Resolution sponsored by Sens. TKTim Kaine (D-VA) and Rand Paul (R-KY) was advancing in the Senate on Feb. 12, with five Republicans joining all Democrats. A House version had previously failed by just two votes (211-213) on Dec. 17, 2025. The resolution would require congressional authorization for continued military or quasi-military operations in Venezuela.