The United States will allow Venezuela to sell oil that's currently under American sanctions and use the proceeds to pay for basic government services.
From dream home to rental scam nightmare: Couple shares warning after falling for fake Facebook Marketplace listing Read full article: From dream home to rental scam nightmare: Couple shares warning after falling for fake Facebook Marketplace listingSome residents were unaware of rooster fighting ring at Northside home, but they say loose dogs are a problem Read full article: Some residents were unaware of rooster fighting ring at Northside home, but they say loose dogs are a problem‘Right buyer never came’: Intuition Ale Works owner says beloved downtown brewery is closing for good in April Read full article: ‘Right buyer never came’: Intuition Ale Works owner says beloved downtown brewery is closing for good in AprilSecretary of State Marco Rubio appears before the Senate Foreign Relations Committee, on Capitol Hill, Wednesday, Jan.
28, 2026, in Washington. Fishermen pass an oil tanker in the Gulf of Venezuela off the shore of Punta Cardon, Venezuela, Wednesday, Jan. 14, 2026. Venezuela's acting President Delcy Rodriguez delivers her first state of the union address at the National Assembly in Caracas, Venezuela, Thursday, Jan. 15, 2026. Secretary of State Marco Rubio appears before the Senate Foreign Relations Committee, on Capitol Hill, Wednesday, Jan. 28, 2026, in Washington. , with the revenue initially dedicated to basic government services such as policing and health care and subject to Washington's oversight, Secretary of State Marco Rubio said Wednesday. The United States will retain control in the short term to ensure the oil revenue is used to stabilize Venezuela, Rubio said at a “The funds from that will be deposited into an account that we will have oversight over,” Rubio said, adding that the U.S. Treasury would control the process. Venezuela, he said, “will spend that money for the benefit of the Venezuelan people.”from Venezuela, which has the largest proven reserves of crude in the world, and oversee where the money flows. After the U.S.this month, the U.S. is working to influence the next steps in the South American country through its vast oil resources. The U.S. will not subsidize oil industry investments in Venezuela, Rubio said, and is only overseeing the sale of sanctioned petroleum as an “interim step.” “This is simply a way to divide revenue so that there isn’t systemic collapse while we work through this recovery and transition,” Rubio said.. Sen. Chris Murphy, D-Conn., asked for assurances from Rubio that the sale of Venezuelan oil will be fair and open, not rigged to benefit “You are taking their oil at gunpoint, you are holding and selling that oil … you’re deciding how and for what purposes that money is going to be used in a country of 30 million people,” Murphy said. “I think a lot of us believe that that is destined for failure.”The U.S. will give Venezuela's current leaders instructions on how the money can and cannot be spent and conduct audits to ensure it is used as intended, Rubio said. He said Venezuela could use the money to pay for policing or to buy medicine. The fund was initially set up in Qatar to avoid having the proceeds seized by American creditors and because of other legal complications that stem from the U.S. not considering Maduro’s government legitimate, Rubio said. Hundreds of millions of dollars have already been set aside and as much as $3 billion more is anticipated, he said. “It’s an account that belongs to Venezuela, but it has U.S. sanctions as a blocking mechanism,” Rubio said. “We only control the dispersal of the money, we don’t control the actual money.” Earlier this month, acting Venezuelan President Delcy Rodríguez said cash from oil sales would flow into two sovereign wealth funds: one to support crisis-stricken health services and a second to bolster public infrastructure, including the electric grid. The country’s hospitals are so poorly equipped that patients are asked to provide supplies needed for their care, from syringes to surgical screws. They also must pay for lab and imaging tests at private hospitals. On Tuesday, during a televised event to announce the revamping of various health care facilities, Rodríguez said her government and the U.S. administration “have established respectful and courteous channels of communication” since Maduro was captured. Neither Rodríguez nor her government’s press office immediately comment on Rubio’s remarks Wednesday. At Rodríguez’s request, Venezuelan lawmakers last week began debating an overhaul of the country’s energy law. The proposed changes are meant to create conditions to attract much-needed private foreign investment.Copyright 2026 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.City Council to consider ordinance to allow downtown Jacksonville bars to serve alcohol until 3 a.m.Chief Meteorologist Richard Nunn expects cold temps to stick around this weekCity Council to weigh multi-million-dollar pedestrian safety project near EverBank StadiumJacksonville doctor urges surgeons to help cure preventable blindness for freeQuestion still remain as to what caused deck collapse that injured multiple peopleVarsity 4 All-News4JAX boys cross country: Providence's Sean Cunningham leads the team$100K Walmart partnership will help Jared Bridegan’s widow add ‘Bexley Boxes’ across FloridaSmoke billowing from Maxwell House plant sparks call to JFRD4 JFRD employees arrested, accused of shooting paintballs at JSO car, I-95 sign during ‘prank war’Major national award for Mandarin sophomore receiver Brysen Wright
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