Where Is The Oil Money Trump Stole From Venezuela's People?

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And that money didn't go to the Treasury account that was described in Trump's own executive order. Instead, it went to a bank account in Qatar, right after that country's leaders gave him a $400 million jet. A senior official explained to Semafor that Qatar was chosen as a“neutral location” where money“can flow freely” without risk of seizure.

Senator Elizabeth Warren was outraged, and told the world what most of us were thinking at the time:

In January, Secretary of State Marco Rubio testified to the Senate that $300 million had been sent to Venezuela to cover government payroll needs and another $200 million was“still sitting” in Doha. He referred to the entire operation as“novel” and“a short-term mechanism.”

But a month later, Energy Secretary Chris Wright said on CNBC that the account had been closed and no more money would be flowing to or through Qatar...and nobody has identified where it went, or where it is, since then.

Where's the money?

House Foreign Affairs Committee ranking member Gregory Meeks called it“an offshore slush fund.” Bessent, questioned by Casten back in February refused to say which accounts the Treasury Department was even using, even though Trump's executive order had named him/Treasury as the custodian for the funds. Casten and Senator Chris Van Hollen again demanded to know where the money was in March, and were again stonewalled. And then again this week.

Meanwhile, the pile of money is growing, particularly given the oil crisis provoked by Trump's idiotic war against Iran. Using Bloomberg tanker-tracking data, the Council on Foreign Relations published an April estimate that:

A State Department official testified to Congress back in April that around $3 billion had gone back to Venezuela, but Trump boasted in July that the US had sold more than $13 billion in stolen Venezuelan oil and suggested he could divert those funds to the American military or anywhere else he wanted.

Back in June, Marco Rubio tried to assuage Congress' concerns by saying that accounting firm KPMG“audits every disbursement.” But when the libertarian Reason Magazine dug into it in August they found that neither the agreements nor the audits have been published.

And the so-called“Transparent Sovereignty” website the Venezuelan government set up to show the world its oil transactions only lists one single sale. Apparently, Trump is not even telling them what he's done with their oil, or where their money went.

And it's not just oil. In March, Interior Secretary Doug Burgum flew a planeload of American mining executives to Caracas and came home bragging about having made off with over $100 million in gold. He set up a deal to sell it to reportedly bribe-friendly Trafigura with the proceeds going into, well, nobody knows where.

This is an old script that Trump appears to be following here, one many corrupt petrostates pioneered long ago.

For example, in 2014 Nigeria's central bank governor, Lamido Sanusi, accidentally revealed to his Senate that roughly $20 billion in oil revenue had never made it into the national treasury.

President Goodluck Jonathan's response was to fire him and call the money a“phantom.” When PriceWaterhouseCoopers finally audited the books, it found at least $1.48 billion was simply gone.

I've done international relief work in some of the most corrupt nations in the world, been offered bribes and threatened for not taking them, and the pattern I'm seeing here is eerily familiar.

They never announce the looting; they just stop letting you know where anything went or who ended up with it. Most people figure that it must be okay since it's not being reported or discussed, and the conversation dies away.

So, here we are. Trump: