The $13 billion hole: Venezuelan oil that vanished in the US

The $13 billion hole: Venezuelan oil that vanished in the US

The figure is chilling: since the arrest of Nicolás Maduro (nicknamed 'platanote' in certain circles), the United States is said to have extracted Venezuelan oil worth more than $13 billion. Of that amount, barely $300 million has reached Venezuelan territory. The rest, according to unofficial estimates, has been 'lost' in the US financial system.

Who is keeping the money?

The suspicion is that the diversion is no accident. While Venezuelan oil production falls and the economy collapses, the money trail leads to circles close to the Trump administration, which some refer to as 'Trumpstein'. The official response to questions about the whereabouts of the funds has been described as ambiguous. There is no transparency, and the silence fuels accusations of outright appropriation.

Some argue that, in geopolitical logic, the oil belongs to the 'Yankee master' and there is nothing to claim: a realist view of power relations. Others, however, see it as outright plunder, a theft of raw materials reminiscent of colonial times.

The staggering figure

Of the estimated $13 billion, only $300 million has reached Venezuela. That is, barely 2.3% of the total value. The rest has vanished into accounts, intermediaries or directly into the pockets of those who control the business. The price of oil, falling production and the absence of controls have created the perfect breeding ground for the money to simply disappear.

The result is that Venezuela, mired in an unprecedented crisis, sees none of the benefits of its main resource. And in the United States, the 'lost' money still has not turned up.