Putting the money in Qatari banks protects it from creditors, and from being tied up in US courts.
Everything is legal and above board. Bessent is controlling the $500m.
Why the Trump administration is holding millions of dollars from Venezuelan oil sales in a Qatari bank
The funds were sent to Qatar, rather than being held in US banks or sent directly to Venezuela, according to a former administration official familiar with the matter. Treasury Secretary Scott Bessent told Newsmax Wednesday evening that the cash from the oil sales would start to flow into Venezuela as soon as Thursday. Venezuelan banks have started advertising cash, suggesting the oil proceeds have arrived in the country, two sources with knowledge of Venezuela’s financial system said.
Placing the money into an account in Qatar – potentially out of the reach of western businesses and creditors who have claims for money they say they’re owed – is one way to achieve the administration’s goals.
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