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Marco Rubio Says U.S. Will Have Venezuela Submit Budget Requests Every Month To Unlock Funds
['Demian Bio']
Latin Times
Secretary of State Marco Rubio said the Venezuelan regime will submit monthly budget requests to unlock funds as the Trump administration continues to oversee its oil industry following the capture of authoritarian President Nicolas Maduro.
Speaking during a hearing before the Senate Foreign Relations Committee, Rubio said the funds will come from oil sales and initially managed by Qatar before being transferred to a U.S. Treasury account.
The New York Times detailed that the funds come from U.S. sales of Venezuelan oil subject to U.S. sanctions.
They will help fund basic public services in the South American country, wihch is facing a "fiscal crunch," according to Rubio.
Rubio conceded it was "novel" but said it was "the best we could come up with in the short term" because of U.S. sanctions on Venezuela.