WASHINGTON: The US has ‌completed the first ‌sales of ‌Venezuelan ⁠oil ​that ‌are part of a $2 billion deal reached earlier this month between Caracas and Washington, a US official told Reuters on Wednesday.

Additional sales are expected ⁠in the coming days and ‌weeks, the official added.

Revenue from ‍the initial ‍oil sales — valued around $500 million — ‍is being held in bank accounts controlled by the US government, according to an administration ​official, citing an order issued on Friday.

The main account is ⁠located in Qatar, according to an industry source familiar with the plan, who said the country represented a neutral venue where funds can move with US approval and without risk of seizure. Semafor first reported that the sales ‌had been completed.