Oil Tanker   Image by Gerhard Traschütz from Pixabay

August 6, 2026 - Washington, D.C. — On Tuesday, Rep. Robert Garcia, Ranking Member of the Committee on Oversight and Government Reform, escalated Oversight Democrats’ investigation into the Departments of Treasury, State, and Energy regarding their roles in managing Venezuelan oil revenue. These letters follow the three departments' responses to Oversight Democrats' February letters, as well as recent reporting that Venezuelan oil revenue now exceeds $13,000,000,000.

“It is outrageous that the Trump Administration’s oil operation in Venezuela is now reportedly valued at $13 billion, while we still don’t know where the money has gone and why Congress has been kept in the dark. If this Administration has nothing to hide, it should immediately provide the transparency and answers the American people deserve,” said Ranking Member Robert Garcia.

In the letters to the Departments of Treasury, State, and Energy, Ranking Member Garcia wrote, "It has been seven months since President Trump invaded Venezuela, captured its president, and seized control of its oil industry while his out-of-control policies continued to drive up costs for Americans at home. The Trump Administration continues to act with an unacceptable lack of transparency around its management of Venezuela oil revenue which President Trump now says exceeds $13 billion. Last week, President Trump suggested that these funds have been used to pay for the U.S. intervention in Venezuela “many times over.” The President’s statements, along with the lack of evidence of material benefit to the Venezuelan people facing 5,000 deaths and almost $20 billion in costs from catastrophic earthquakes, further our concerns about how Trump Administration officials have used these funds. Oversight Democrats demand additional information about the Administration’s management of Venezuelan oil revenue.”

In February, Ranking Member Garcia demanded answers from the Departments of Treasury, State, and Energy regarding their roles in managing Venezuelan oil revenue. Specifically, the letters request a detailed accounting of funds and agreements with the Venezuelan regime, and raise questions about the Trump Administration’s $1 billion sale of Venezuelan oil and lack of transparency before Congress.

In January, Ranking Member Garcia and every Oversight Democrat demanded answers on any communication from the Trump Administration with major oil companies Chevron, ExxonMobil, ConocoPhillips, and Continental Resources regarding the Trump Administration’s military action against Venezuela and the President’s plan to seize the country’s oil wealth. The Committee received responses from ExxonMobil, ConocoPhillips, and Chevron.

Ranking Member Garcia also demanded answers from oil trading companies Vitol and Trafigura regarding their role in the Trump Administration’s sale of Venezuelan oil and any agreements made between the companies and the Administration.

Source: House Committee on Oversight and Government Reform-Democrats