President Donald Trump had multiple chances Monday to answer a straightforward question: Where is the estimated $13 billion his administration has collected from Venezuelan oil revenue?
He never did.
During a press gaggle aboard Air Force One, a reporter asked Trump about reports that the U.S. has taken in roughly $13 billion from Venezuelan oil sales.
“There’s some reports that the United States has taken in $13 billion from Venezuela. Where is that money going?”
Instead of explaining where the money is being held or how it’s being managed, Trump suggested the figure might actually be even larger.
“Thirteen billion from Venezuela? I think even more than that,” Trump replied. “Venezuela, we paid for that war many times over. And that’ll happen with Iran also. We paid for the war many times over.”
But the reporter wasn’t asking whether the money existed. The question was where it is.
When pressed again, Trump sidestepped once more.
“No other president can say that for a long time,” he said. “We had a cost…. We paid for it many, many times over. And now, as you know, we have a very good relationship with Venezuela.”
The reporter asked a third time.
“But where is the money going?”
Trump’s answer still offered no specifics.
“It goes toward running the country.”
The reporter immediately followed up.
“No … the money that the U.S. is taking in, where is that money going?”
Again, Trump refused to identify where the funds are actually being held.
“Toward running the country. It can go to the military. Congress has to approve it…. We’re taking in a lot of money. Billions and billions of dollars from Venezuela.”
What Trump never explained was the central issue: Where is the $13 billion now?
He didn’t say whether the money has been deposited into the U.S. Treasury, what account it is sitting in, which agency controls it, or whether Congress has appropriated any of it. Instead, he repeatedly pivoted to talking about how much money the administration has collected and how it supposedly offsets the cost of military operations.
The exchange comes as questions continue to mount over the fate of the Venezuelan oil revenue.
According to the Financial Times, the Trump administration has collected an estimated $13 billion, yet months after the seizures began, there has been no public accounting showing exactly where those funds are being held or how they are being managed. The administration had previously suggested the money would ultimately benefit the Venezuelan people, but there has been little indication that has happened.
Adding to the mystery, Semafor previously reported that proceeds from the first oil sale were expected to be placed in an offshore bank account in Qatar, raising further questions about the administration’s handling of the funds.
Trump’s comments on Monday did little to answer any of them.
After being asked the same question over and over, the president acknowledged that the United States is taking in “billions and billions of dollars” from Venezuela—but he still wouldn’t say exactly where the estimated $13 billion is or provide any evidence showing how it’s being safeguarded or spent.
Listen to the audio below:
Q: There's a report that the US has taken in $13 billion from Venezuela. Where is that money going?
TRUMP: I think even more than that
Q: But where is that money going?
TRUMP: We've paid for that war many times over
Q: But where is the money going?
TRUMP: Running the country… pic.twitter.com/kAbel4jv76
— Aaron Rupar (@atrupar) July 27, 2026
