Marco Rubio outlined plans for Venezuela’s petroleum revenue to fund essential government services including law enforcement and healthcare during Senate testimony Wednesday. The framework ensures that oil sales proceeds support basic governmental functions while preventing corruption or authoritarian activities.
The Secretary of State explained that sales revenue will be deposited in Treasury-controlled accounts, with monthly budgets submitted by Caracas requiring approval before funds are released. This arrangement grants Washington oversight of how petroleum proceeds are allocated while nominally allowing interim authorities to govern and provide essential services.
Rubio characterized the framework as necessary given Venezuela’s history of mismanaging national resources under Nicolas Maduro and predecessor Hugo Chavez. He suggested that demonstrating fiscal responsibility through the monthly budget approval process, combined with meeting other American demands, would facilitate gradual relationship normalization.
Democrats questioned whether these arrangements constitute appropriate oversight or excessive American intervention in another nation’s internal affairs. They challenged the framework’s implications for Venezuelan sovereignty and expressed skepticism about whether cooperation with former Maduro regime members serves stated democratic objectives.
The hearing also addressed broader foreign policy concerns including Greenland, NATO tensions, Iran, and China. Rubio sought to reassure allies disturbed by Trump’s aggressive rhetoric while defending the president’s confrontational diplomatic style. He maintained that fundamental commitments remain intact despite contentious debates about burden-sharing.