In a decisive step for the Trump administration’s foreign‑energy strategy, federal prosecutors in Miami ended a long‑running Justice Department investigation into Venezuelan oil entrepreneur Alejandro Betancourt. According to two sources briefed on the matter, the closure came at the direction of senior officials, including then‑Deputy Attorney General Todd Blanche, as part of a coordinated effort by the White House and Secretary of State Marco Rubio to enlist Betancourt in a new oil agreement with the Maduro regime.
From probe to partnership
Betancourt had been linked for a decade to a sprawling money‑laundering probe that alleged the diversion of funds from Venezuela’s state‑owned oil company PDVSA. While ten people were indicted in the broader case, Betancourt himself was never charged. His attorney, Jon Sale, maintains that Betancourt never knowingly handled illicit money.
Following the dramatic January arrest of Venezuelan President Nicolás Maduro in New York on narco‑trafficking charges, administration officials contacted Betancourt within hours. They sought his assistance in opening talks with Maduro’s remaining government officials, led by Vice President Delcy Rodríguez.
Trump’s oil vision
President Trump announced the proposed venture days ago, describing it as the largest oil deal in history. The plan would pair Betancourt’s company with the Pentagon to secure U.S. control of roughly 65 billion barrels of Venezuela’s oil reserves, a move the administration says will bolster American energy security and help revive Venezuela’s shattered economy.
Rubio defended the partnership, stating, “We vetted him through our system. There are no charges he’s facing in the United States for violation of any of our laws.” A senior White House official echoed that sentiment, adding that European investigations were sparked by U.S. allegations, not independent findings.
Official pushback and denial
The Justice Department publicly disputed claims that Blanche personally intervened, calling the allegation a “complete fabrication.” Nonetheless, multiple briefed sources say the administration’s pressure on the Justice Department and on Swiss authorities helped lift travel restrictions on Betancourt and clear the way for the oil talks.
White House officials framed the deal as a win for both nations, saying it would “greatly benefit both the United States and Venezuela for years to come” and help stabilize Venezuela after years of hyperinflation.
Historical context
The concept of a U.S.‑Venezuela oil partnership dates back to Trump’s first term, when former personal lawyer Rudy Giuliani attempted to broker a similar arrangement in 2019. Giuliani’s efforts coincided with his own legal troubles and a separate push to investigate the Bidens, underscoring the long‑standing strategic interest in Venezuelan oil.
While critics have raised concerns about working with a figure linked to alleged corruption, the Trump administration argues that the partnership serves America’s constitutional right to secure energy independence and supports families by protecting jobs tied to the oil sector.
Original reporting: KEYT (Ventura/Santa Barbara) — read the source article.
