According to a Reuters report, Alejandro Betancourt, a Venezuelan billionaire previously under U.S. investigation for alleged money laundering involving embezzled funds from Venezuela’s state-owned oil company PDVSA, has become a key partner in a new oil agreement with the United States. The deal, announced recently, grants the U.S. Pentagon’s Office of Strategic Capital a 35% stake in Betancourt’s company, North American Blue Energy Partners (NABEP), and provides the State Department with the right to purchase 20% of NABEP’s oil at cost, along with preferential access to the remaining 80% of output [1].

The article notes that Betancourt played a significant role in the Trump administration’s strategy leading up to the January 3 operation that resulted in the removal of former President Nicolas Maduro from power. He provided information that aided in enforcing a U.S. naval blockade targeting sanctioned Venezuelan oil tankers, leading to the seizure of over a dozen vessels. Betancourt also facilitated negotiations with Venezuelan officials, including interim President Delcy Rodriguez, following Maduro’s capture. Despite ongoing investigations in the U.S., Spain, and Switzerland, Betancourt has never been indicted, and a U.S. official stated that most of the legal challenges against him are nearly a decade old [1].

References: [1] Sarah Kinosian, Marianna Parraga, and Gram Slattery. “The Venezuelan billionaire the US investigated for money laundering now has a Pentagon oil deal.” Yahoo News, September 5, 2023. https://www.yahoo.com/news/politics/venezuelan-billionaire-us-investigated-money-100502036.html

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