Krishnamoorthi Demands Trump Disclose Whether He, His Family, or Allies Stand to Profit from Venezuela Oil Deal

September 4, 2026 Press Release WASHINGTON — Congressman Raja Krishnamoorthi (D-IL), a senior member of the House Committee on Oversight and Government Reform and House Permanent Select Committee on Intelligence, today demanded President Donald Trump disclose whether he, members of his family, political allies, major donors, or business associates stand to financially benefit from his Administration’s Venezuela oil deal before substantial U.S. taxpayer resources are committed. Trump announced the deal on August 28, claiming it would give the United States “majority U.S. control of more than 65 billion barrels of proven oil reserves” in Venezuela. According to the White House, the agreement includes a 35 percent U.S. stake in the corporate parent of North American Blue Energy Partners (NABEP), a private company led by Venezuelan businessman Alejandro Betancourt, as well as preferential rights to purchase a portion of its oil production. In the letter, Krishnamoorthi writes: “Given the limited information your Administration has made public, conflicting statements from Venezuela’s acting President, and questions of the legality of the agreement, I have serious concerns, including whether you, members of your family, your political allies, or major donors stand to financially benefit from this arrangement. Therefore, I urge you to provide greater transparency regarding this deal before the United States commits substantial capital to Venezuela’s energy sector.” Krishnamoorthi raised particular concerns about Betancourt, who has reportedly faced investigations in Switzerland, Spain, and the United States involving alleged money laundering. Betancourt was identified as a conspirator in a Miami criminal complaint detailing a billion-dollar scheme involving funds from Venezuela’s state-owned oil company PDVSA. Rudy Giuliani, Trump’s personal lawyer at the time, represented Betancourt in discussions with Justice Department officials. Betancourt was also arrested twice in Britain in 2025 at the requests of Spain and Switzerland. The letter also raises questions about other potential beneficiaries of the deal, including oil magnate Harry Sargeant III, a Republican donor with longstanding connections to Trump who reportedly advised the Administration on Venezuela. Sargeant agreed last month to sell the company through which he held a minority stake in NABEP to an unidentified buyer for $300 million. Krishnamoorthi writes: “The public requires meaningful transparency when government decisions have the potential to create substantial financial benefits for individuals with close connections to the President. Your family members and business associates have extensive investments and commercial relationships around the world. If any individual or entity connected to you stands to benefit from the development, financing, refining, transportation, sale, or export of Venezuelan oil—or from companies receiving U.S. government contracts, financing, licenses, or other benefits as a result of this agreement—the public deserves to know before American taxpayers and U.S. government resources are committed.” Krishnamoorthi is demanding answers to the following questions: Do you, any member of your immediate family, or any entity in which you or your immediate family has a direct or indirect financial interest have any financial interest in any entity involved in the Venezuela agreement or in the development, financing, refining, transportation, or sale of Venezuelan oil? If so, please identify each interest and its estimated value. Do any current or former Administration officials, campaign officials, major political donors, business associates, or other individuals with a personal or professional relationship with you have a direct or indirect financial interest in any entity participating in the agreement? If so, please identify those individuals and entities. What U.S. government agencies, funds, financing mechanisms, or other taxpayer-supported resources will be used to finance, guarantee, insure, or otherwise support the Venezuela oil agreement? What ethics reviews, conflict-of-interest analyses, recusals, disclosure requirements, or other safeguards have the Administration undertaken to ensure that the agreement does not provide an improper financial benefit to you, your family, your political allies, or your business associates? What mechanisms are in place to ensure that individuals with connections to you or your family cannot acquire interests in Venezuelan oil assets or companies participating in the agreement after the agreement has been announced? Congressman  Krishnamoorthi requested responses by September 14, 2026 and his letter is available here .