For nearly a decade, Betancourt had been the subject of a US Department of Justice investigation into an alleged billion-dollar money-laundering scheme involving Venezuela’s state-owned oil company, PDVSA.
US prosecutors had alleged that the scheme involved the embezzlement of funds from PDVSA, making the investigation one of the major corruption and financial-crime cases linked to Venezuela’s oil industry.
The decision to close the probe comes amid an emerging oil-related agreement involving Betancourt, raising questions about the circumstances surrounding the administration’s decision.
The development is expected to attract scrutiny over the relationship between US energy interests, Venezuela’s oil sector and ongoing investigations into alleged corruption and money laundering.
