Letter from Rep. Casten and Sen. Van Hollen to Treasury Secretary Bessent on the Venezuelan oil account

… national emergency, stating that the risk of court-ordered seizure or other actions against these funds constitutes an unusual and extraordinary threat to U.S. national security and foreign policy.4 At a January 28, 2026, Senate Foreign Relations Committee hearing, Secretary of State Marco Rubio confirmed the first sale of Venezuelan oil, valued at $500 million, had been deposited in a Qatari bank account. He further testified that $300 million had been transferred to the Venezuelan government to meet payroll obligations for public sector employees. Secretary Rubio also testified that the Treasury Department has a written agreement with the Venezuelan government to review monthly budget requests from the Qatari bank account. He stated that the $200 million in oil proceeds remained in a “short-term account” and would ultimately be transferred to a U.S. Treasury account. On February 4, 2026, at a House Financial Services Committee hearing, you agreed to provide the specific …