U.S. Treasury Takes Steps to Monitor Venezuelan Oil Funds

The U.S. Treasury is initiating measures to ensure transparency in the management of Venezuelan oil funds by employing outside auditors. Treasury Secretary Scott Bessent announced the plans to lawmakers on Wednesday.

During a session with the House Financial Services Committee, Bessent admitted he was unaware of any pre-existing agreements regarding the employment of such auditors. He assured the committee of his willingness to collaborate with Secretary of State Marco Rubio to share any pertinent details regarding these arrangements.

This move by the Treasury highlights its commitment to maintaining fiscal oversight and accountability in international financial dealings, especially concerning volatile regions like Venezuela.