'Unchecked Corruption': First US Sale of Venezuelan Oil Goes to Company of Trump Megadonor
"Trump took Venezuela's oil at gunpoint, and gave it to one of his biggest campaign donors," wrote one US senator.
The first US sale of Venezuelan oil since the Trump administration illegally attacked the South American country earlier this month went to the company of a trader who donated millions to President Donald Trump's 2024 campaign.
The roughly $250 million sale of Venezuelan crude went to Vitol, a Geneva-based energy and commodity trading firm whose US arm is headquartered in Houston. The Financial Times reported late last week that John Addison, a senior trader at Vitol, was involved in his company's efforts to secure the deal.
Addison, who attended a recent White House meeting with other top oil executives, donated $6 million total to Trump's 2024 presidential campaign via several super PACs, including $5 million to MAGA Inc.
"Addison pledged to Trump at the [White House] event that Vitol would attain the best price possible for Venezuelan oil for the US, 'so that the influence you have over the Venezuelans will ensure that you get what you want,'" according to the Financial Times.
US Sen. Chris Murphy (D-Conn.), noted on social media that Vitol has a "criminal history of bribing foreign governments" and called the Venezuelan oil deal "fundamentally corrupt."
"Trump took Venezuela's oil at gunpoint, and gave it to one of his biggest campaign donors," Murphy wrote. "Vitol had to buy access to Trump because under normal circumstances, they wouldn't be able to get a deal like this."
Vitol is one of a number of corporations positioned to reap windfall profits from the Trump administration's assault on Venezuela, abduction of its president, and efforts to seize and indefinitely control the country's vast oil reserves.
As the Washington Post reported over the weekend:
Hedge fund billionaire Paul Singer’s firm Elliott Investment Management has for years been in the process of acquiring distressed Venezuelan-owned assets in the US and is on the cusp of owning them. After clearing final regulatory and legal approval, the firm can use them to make a considerable profit turning newly available Venezuelan oil into gasoline. The company that would be acquired by an Elliott affiliate is Citgo, the Houston-based refining firm owned by Venezuela’s state oil company Petróleos de Venezuela (PDVSA). Citgo owns refineries in Illinois, Louisiana and Texas that are well-positioned to profit off the millions of barrels of Venezuelan oil that Trump says will be steered to US refineries because it is a particularly heavy blend of crude that is difficult to process. Only certain refineries, like those run by Citgo, are equipped to handle it.
Proceeds from the US sale of Venezuelan oil are being stashed in Qatar—an arrangement that critics said opens the door to additional corruption.
"After illegally and unconstitutionally striking Venezuela, Trump is now selling Venezuelan oil through a campaign donor, and funneling the proceeds to an offshore account in Qatar—creating a potential slush fund with no accountability, oversight, or guardrails for Trump and his allies," US Sen. Cory Booker (D-NJ) wrote late Sunday. "His continued abuse of power doesn’t serve the Venezuelan people or the American people—and it certainly doesn’t lower costs for Americans."
"This outrage," Booker added, "is yet another example of his unchecked corruption as he again ignores laws and enriches his friends, donors, and himself."