Venezuela Orders Airlines to Pay Fuel Fees to US Treasury
On May 28, 2026, Venezuela’s Ministry of Petroleum and PDVSA mandated that international airlines and maritime shipping firms deposit all foreign currency payments for fuel into a U.S. Treasury Department custody account. This directive, affecting aviation and marine fuel purchases, aligns with a January 2026 U.S. executive decree establishing Foreign Government Deposit Funds to supervise Venezuelan natural resource revenues. U.S. officials explained these funds are held in a custodial capacity to prevent creditor attachments and cover auditing costs, with the Venezuelan government requiring budget approval from Washington for fund releases. This financial intervention occurs amidst widespread infrastructure collapse and severe economic hardship in Venezuelan cities outside Caracas.
John Q. Hosedrinker