U.S. handling of Venezuelan oil sales raises questions

The U.S. announced a new energy deal the Department of Energy says would allow sale of up to 50 million barrels of Venezuelan crude and that some sanctions would be lifted. The announcement followed the seizure of two tankers and officials said proceeds would be held in U.S.-controlled bank accounts.

The U.S. government announced a U.S.-Venezuela energy deal that it says would enable sale of Venezuelan crude to global buyers. The Department of Energy said the agreement could allow up to 50 million barrels to be sold and that some sanctions would be lifted to make the sales possible. The announcement followed U.S. seizures of two tankers carrying Venezuelan crude. U.S. officials said proceeds from the sales would first settle in U.S.-controlled accounts at globally recognized banks. Key facts: - The Department of Energy disclosed the energy deal and reported it could allow sale of up to 50 million barrels of Venezuelan crude. - Two tankers, identified in reporting as the Bella 1 and the M Sophia, were seized by U.S. authorities and their cargoes are slated for sale under the arrangement. - U.S. officials said all proceeds would first be held in U.S.-controlled bank accounts, and the Department of Justice and other authorities are reported to be investigating crew members with possible criminal charges mentioned. Summary: Officials say sales would begin immediately and that proceeds will be managed through U.S.-controlled accounts. Investigations of the seized vessels and potential criminal charges are reported to be under way, and further legal or procedural steps were not specified in detail.