According to Rubio, the proceeds from approved Venezuelan oil sales will be transferred by the US into a special account, which will initially be managed by Qatar. The funds, he said, are intended for the benefit of the Venezuelan people and will remain under close US oversight. The disclosure was first reported by The New York Times.

Rubio told the Senate that the mechanism was designed to balance humanitarian and economic considerations with legal and sanctions-related constraints. Direct transfers to Venezuela, he argued, could expose the funds to legal claims from US energy companies whose assets were expropriated by Caracas nearly two decades ago. Routing the money through a third country was therefore necessary, he said, to protect the funds and ensure compliance with US law.

The proposal drew sharp criticism from Democratic lawmakers, who questioned both the transparency and legality of placing Venezuelan state funds under Qatar’s management. Several senators raised concerns about Qatar’s geographic distance from Venezuela and pointed to the close relationship between Qatar’s Emir and US President Donald Trump, arguing that the arrangement could undermine accountability.

Rubio defended the decision, citing the complexity of US sanctions on Venezuela and describing the setup as a temporary measure. “This is not meant to be permanent,” he said, adding that the goal was eventually to transition to a normalised trading and financial system once conditions allowed.

During the same hearing, Rubio also addressed the controversial US operation that led to the arrest of former Venezuelan President Nicolás Maduro earlier this month. He told the Senate Foreign Relations Committee that the January 2 operation was part of a broader strategy to prevent a potential civil war in Venezuela, rather than an act of war. Maduro and his wife, Cilia Flores, were later transferred to New York, where they are being held on charges related to drug trafficking and weapons violations, allegations Maduro has denied.

Lawmakers questioned the financial and political cost of the operation. Democratic Senator Jeanne Shaheen said estimates suggested the military action and maritime blockade could cost up to $1 billion, while Republican Senator Rand Paul asked whether the operation amounted to a war. Rubio rejected that characterisation, insisting the US was not seeking further military escalation.

Outlining US objectives, Rubio said Washington’s priorities were preventing civil conflict, stabilising Venezuela’s oil sector, and ultimately enabling a democratic transition.