Live Feeds
● LIVE Updated 1h ago · 11 sources tracked

Where’s the $12 Billion Extracted by the Trump Regime From Venezuela?

A confidential KPMG report reveals that $12.26 billion in Venezuelan oil and export revenue passed through a U.S.-controlled custody account in the first nine months of 2026. The New York Times and Reuters confirm the figure, citing the State Department's public release of the audit. The funds originate from oil sales by PDVSA, Venezuela's state oil company, under licenses granted by the U.S. Treasury. The account is managed by the opposition-linked interim government structure recognized by Washington, but the final disposition of the money remains unclear.

🎙️

Listen to Live Briefing

Real-time synthesized voice briefing · Live Feeds Desk

⏱ ~3 min
Speed:
RSS Source map (11)
⚡ Key Developments & Real-Time Context
Text size:
  • ✓ A KPMG audit shows $12.26 billion in Venezuelan oil and export revenue flowed through a U.S.-controlled custody account in the first nine months of 2026.
  • ✓ The New York Times and Reuters reported the figure based on the State Department's public release of the report.
  • ✓ The funds come from PDVSA oil sales authorized under U.S. Treasury licenses.
  • ✓ The account is managed by representatives of the interim government recognized by the United States.
🛡️ Source Corroboration: 11 independent reporting domains (92% confidence) ⏱ Read time: ~3 min

What changed

The State Department publicly released a confidential KPMG audit quantifying 2026 revenue flows at $12.26 billion, confirming the scale of funds handled under the current licensing framework.

Live updates

  1. KPMG Report: $12.26 Billion in Venezuelan Oil Revenue Flowed Through U.S. Account in 2026

    A confidential KPMG report reveals that $12.26 billion in Venezuelan oil and export revenue passed through a U.S.-controlled custody account in the first nine months of 2026. The New York Times and Reuters confirm the figure, citing the State Department's public release of the audit. The funds originate from oil sales by PDVSA, Venezuela's state oil company, under licenses granted by the U.S. Treasury. The account is managed by the opposition-linked interim government structure recognized by Washington, but the final disposition of the money remains unclear.

    Why it matters

    Since 2019, the U.S. has sanctioned PDVSA and recognized an interim Venezuelan government, diverting oil revenue into a blocked account at the Federal Reserve Bank of New York. The mechanism was designed to deny funds to Nicolas Maduro's administration while preserving assets for a future democratic transition. This latest audit provides the most detailed public accounting to date of the volume moving through that structure.

    What is confirmed

    • A KPMG audit shows $12.26 billion in Venezuelan oil and export revenue flowed through a U.S.-controlled custody account in the first nine months of 2026.
    • The New York Times and Reuters reported the figure based on the State Department's public release of the report.
    • The funds come from PDVSA oil sales authorized under U.S. Treasury licenses.
    • The account is managed by representatives of the interim government recognized by the United States.

    Still unconfirmed

    • Gizmodo frames the transfer as $12 billion 'extracted by the Trump regime,' implying political motive rather than sanctions compliance.

    What to watch next

    • Detailed breakdown of disbursements from the custody account to specific beneficiaries or projects.
    • Any Treasury license modifications affecting PDVSA export authority after the November 2026 reporting period.
    • Venezuelan opposition or Maduro government statements contesting the audit's findings or the account's governance.
    Sources used for this update (14)
    1. gizmodo.com — Gizmodo | The Future Is Here
    2. www.yahoo.com — Yahoo
    3. flipboard.com — Beloved singer’s wife killed after welcoming robbery suspects with lemonade
    4. The New York Times — U.S. Received $12 Billion From Venezuela’s Oil, Report Shows
    5. GuruFocus — KPMG Report Reveals Over $12 Billion from Venezuela's Natural Re
    6. TradingView — US handled $12 billion in Venezuelan oil revenues, secret report shows - NYT
    7. Trade Finance Global — Venezuelan oil flows north, but where does the money go?
    8. Gizmodo — Where’s the $12 Billion Extracted by the Trump Regime From Venezuela?
    9. gizmodo.com — Where’s the $12 Billion Extracted by the Trump Regime From ...
    10. jen.jiji.com — Rosatom chief: Preparations underway for 2nd phase of Kazakhstan’s first NPP project
    11. jen.jiji.com — Shrinking Arctic sea ice may bring drier summers to Kazakhstan
    12. www.nytimes.com — U.S. Received $12 Billion From Venezuela’s Oil, Report Shows ...
    confidence 92%
📊

Community Sentiment: How do you assess this situation?

Voice your perspective · Real-time aggregated sentiment from the Live Feeds community