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International Business Times UK
International Business Times UK
Politics
Chelsie Napiza

Trump Faces Scrutiny Over $13B in Venezuelan Oil Cash as Only $300M Is Publicly Traced to Caracas

Only $300 million of the roughly $13 billion in Venezuelan oil proceeds has been publicly traced to Caracas, fueling demands for an independent audit. (Credit: The White House via Wikimedia Commons)

Six months after American special forces carried Nicolás Maduro out of Caracas, Washington controls the proceeds of Venezuela's oil industry, and almost nobody outside the administration can say where the money has gone.

The Financial Times exclusively reported this week that roughly £9.7 billion ($13 billion) in Venezuelan oil revenue has flowed through arrangements supervised by the Trump administration, while only about £224 million ($300 million) has been publicly traced arriving in Caracas.

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