Venezuela Sends Crude to Israel as U.S. Takes Control of Oil Sales

Venezuela has shipped its first crude oil cargo to Israel since 2020, signaling a significant change in the country’s oil export patterns following the capture of President Nicolás Maduro, according to a report by Bloomberg.

The shipment comes as Venezuela seeks to diversify its oil export destinations after years of sanctions and isolation. Bloomberg reported that recent Venezuelan crude sales have been directed to India, Spain, the United States, and now Israel, marking a notable shift in trade flows due to ongoing geopolitical challenges.

According to the report, the cargo is en route to Israel and is expected to be delivered to Bazan Group, the country’s largest crude oil processor operating the Haifa refinery. Bloomberg noted that Bazan declined to comment on the shipment, and Israel’s Energy Ministry also declined to comment on the sources of Israel’s crude oil imports.

Israel imports nearly all of its crude oil to meet domestic fuel demand, relying on overseas suppliers for transportation fuels and industrial energy needs. As a result, changes in global oil flows and the reopening of previously suspended supply routes can have practical significance for Israel’s energy sector.

While this marks the first Venezuelan shipment to Israel in several years, it does not represent an entirely new trade relationship. Israel previously imported Venezuelan crude before trade was halted under sanctions, including a shipment of roughly 500,000 barrels in 2019. Those flows ceased in 2020 as U.S. pressure on Caracas intensified.

The renewed exports follow the capture of Maduro and his transfer to the United States for trial, a development that U.S. President Donald Trump has linked directly to the reopening of Venezuelan oil sales. 

In an interview with the New York Post in late January, Trump said Venezuelan crude was already reaching American refineries. “The oil is arriving at refineries in Houston and elsewhere,” Trump said, adding that “the United States plans to sell up to 50 million barrels at market price.”

Trump has also said that U.S. authorities are preparing to receive between 30 million and 50 million barrels of Venezuelan crude from the country’s interim authorities. According to Trump, the proceeds from those sales will be managed by Washington.

“That money will be under my control, as President of the United States of America, to ensure it is used for the benefit of the people of Venezuela and the United States,” he said.