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Billionaire under investigation for money laundering, now Pentagon oil partner

2026-09-06 18:36:46Kosova&Bota SHKRUAR NGA REDAKSIA VOX

Billionaire under investigation for money laundering, now Pentagon oil partner

Venezuelan billionaire Alejandro Betancourt, previously investigated in the US for an alleged money laundering scheme, has become a key partner of Washington in Venezuela's oil sector.

According to Reuters, the Pentagon has taken a 35% stake in his company North American Blue Energy Partners (NABEP), while the State Department will have the right to buy some of the company's oil at cost price and preferential access to the rest of the production.

Betancourt had been the subject of investigations in the US, Spain and Switzerland, over suspicions of money laundering and embezzlement of more than $1 billion from the Venezuelan state company PDVSA.

He has not been charged or convicted in these cases.

However, the businessman has become an important intermediary between Washington and Caracas. According to Reuters sources, he has helped negotiate oil exports and agreements that by the end of August have enabled the export of more than 135 million barrels of oil and fuel.

The case marks a sharp turn in Betancourt's fortunes: from a businessman under international investigation to an important US partner in the strategic Venezuelan oil industry.


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