The US president lied when he said the illicit proceeds would benefit the Venezuelan people.
On August 29, President Trump went on social media and boasted about stealing Venezuelan oil. The theft, according to Trump, “more than doubles American oil reserves.” He said there was “no cost” to American taxpayers, although there will obviously be a huge cost to the people of Venezuela who will see little if any benefit from Trump’s plunder.
Trump went so far as to claim the brazen theft will benefit the Venezuelan people. The profits are expected to enrich oil company executives and elites rather than ordinary citizens.
The average monthly net salary in Venezuela is $218. Poverty is extremely severe, with over 80% of households affected and more than half living in extreme poverty. A significant portion of the population faces food shortages, with many unable to afford basic food items.
The United States sold much of the pilfered oil to Vitol, a Geneva-based energy and commodity trading firm, and also Trafigura, a Singaporean‑based multinational commodities company. The theft and sale of oil have raised concerns about transparency and accountability, especially regarding the management and distribution of its proceeds.
Eight months after Trump snatched “millions of barrels” of oil, the administration floated a lie to cover its audacious theft. The State Department proclaimed that it would use profits from the sales for “the benefit of the American people and the Venezuelan people.” It later said that “billions of dollars have been disbursed to the Venezuelan economy” and that “financial monitoring is under way to ensure funds benefit the Venezuelan people.”
The Financial Times reported there is no evidence of oil money returning to Venezuela, as claimed by Trump, and that Venezuela’s GDP in the first quarter was its lowest in five years. Oil makes up virtually a quarter of the country’s GDP.
“Trump’s invasion of Venezuela has been about oil, power, and graft from the very beginning, with billions of dollars in Venezuelan oil revenue being controlled by the Trump administration without transparency or safeguards,” Democratic Representative Joaquin Castro told the FT.
Swiss company Vitol is involved in shipping Venezuelan oil to Israel, which is used in part to fuel its apartheid and ongoing genocide against Palestinians in Gaza and attacks on Shia communities in southern Lebanon. Vitol’s Saras refinery in Sarroch, Sardinia, Italy provided 17% of Israel’s imports of oil and refined products.
“At a time when Palestinians are being slaughtered, ethnically cleansed, and deprived of the most basic necessities,” declared Maren Mantovani with the Palestinian-led BDS movement, “any company fueling Israel’s genocide, apartheid and military occupation is deeply complicit and must be held accountable—as should its executives and board members, according to international law.”
In February, it was reported that the first shipment of heisted oil went to Israel. The shipment was not the result of a decision made by Venezuela or its Petróleos de Venezuela (PDVSA), but rather as “an indirect consequence of the reconfiguration of the global energy market orchestrated by Washington,” writes Misión Verdad for the Orinoco Tribune.
On February 10, Bloomberg Línea, a Spanish and Portuguese language news website, reported the oil cargo was transported to the Bazan Group, an oil refining and petrochemicals company located in Haifa Bay, Israel. It is the largest refinery in Israel.
The Zionist government does not announce where it obtains crude oil and, according to Bloomberg Línea, tankers heading to the port often disappear from tracking systems as they approach Israel. The Israel Ministry of Energy declined to reveal where the country gets it oil.
Delcy Rodríguez, who became the president of Venezuela after Trump abducted Nicolás Maduro on bogus drug charges, restored relations with Israel in August. In 2009, Venezuela, along with Bolivia, severed ties with Israel in response to its occupation in Gaza and its ongoing violence against the Palestinian people. As I noted in August, the Trump administration is busy at work promoting and helping install right-wing leaders in Latin America.
The illegal abduction of Maduro is the signature event of Trump’s “Donroe Corollary to the Monroe Doctrine.” The Monroe Doctrine, first articulated by President James Monroe on December 2, 1823, warned European powers not to attempt colonization in Latin America.
The Roosevelt Corollary, pronounced by President Theodore Roosevelt in 1904, expanded the original Monroe Doctrine by asserting that the United States could intervene in the internal affairs of Latin American countries in order to protect American business interests and investments.
Trump expanded the Roosevelt Corollary and insisted Venezuela return land, oil, and other assets he claimed it stole from the US.
“Trump’s statement was absurd because Venezuela has never stolen anything from the US, while his threat of using force violated UNSC resolution 2(4), which prevents members from threatening to use force against others,” notes Simon Chege Ndiritu, writing for New Eastern Outlook. However, “the UN’s mix of silence and chamfered response to evolving US aggression against Venezuela constitutes approval of modern colonialism,” Ndiritu continues.
Donald Trump’s theft of a vital natural resource from an impoverished country on the heels of a military operation shouldn’t be unexpected. Donald Trump and his family have exploited their position to profit through cryptocurrency and related ventures. According to a congressional committee estimate as of January 2026, these schemes generated approximately $2.25 billion in realized profits from foreign payments and other alleged sources.
Additionally, analysts have observed unusual trading activity that frequently spikes just before Trump makes significant public statements or announcements. This pattern was also evident before Trump announced a pause on tariffs, where traders were betting on stock market increases right before the announcement.
“Trump has dispensed with the formalities,” reports The Democracy Lab, “and appears to be openly selling access to the White House in exchange for cash that goes not to campaign accounts but more or less directly into Trump’s pocket.”
Article posted with permission from Kurt Nimmo
