Companies Vitol and Trafigura stand to make significant profit from the Trump Administration’s sale of Venezuelan oil; Campaign finance records show Vitol’s John Addison had previously donated $6 million towards President Trump’s campaign
Washington, D.C. — Today, Rep. Robert Garcia, Ranking Member of the Committee on Oversight and Government Reform, demanded answers from oil trading companies Vitol and Trafigura regarding their role in the Trump Administration’s sale of Venezuelan oil and any agreements made between the companies and the Administration. With the Trump Administration’s initial sale of Venezuelan oil, valued at about $500 million, Vitol and Trafigura stand to make significant profit from the sale of Venezuelan oil. Vitol’s role in this initial sale is particularly concerning, as campaign finance records show that Vitol senior trader John Addison had previously donated $6 million towards President Trump’s campaign. The letter also raised serious concerns whether the companies were given advanced notice of military action against Venezuela.
“The Trump Administration’s shady business dealings regarding Venezuelan oil are being brought to light, and Oversight Democrats have a lot of questions. Donald Trump is continuing to use his position as president to enrich himself while he deceives the American people and exploits Venezuela. Oversight Democrats will not stop until we know exactly what companies are profiting from these foreign policy decisions, especially in Venezuela,” said Ranking Member Robert Garcia.
In the letter to Vitol and Trafigura, Ranking Member Garcia wrote, “Since President Trump took unilateral action to deploy the U.S. military to capture Venezuela’s president, Nicolás Maduro, the Administration has made clear that it intends to control Venezuela’s oil industry and its revenue for the foreseeable future. In the immediate aftermath of the military operation, the White House gathered oil drilling and trading companies—like Vitol and Trafigura—to present them with lucrative opportunities to exploit the sale of Venezuelan oil. Given these developments, and resulting concerns about the rule of law and Congress’s constitutional authorities, the Committee seeks answers about the Trump Administration’s intentions regarding its sale and marketing of Venezuelan oil, as well as its intentions regarding the resulting revenue. We further seek to understand the nature of any agreements your companies have made with the Trump Administration regarding Venezuelan commodities, and the role your companies hold in carrying out the Administration’s actions relating to Venezuela.”
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