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鈥檚 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鈥檚 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鈥檚 decision.
The development is expected to attract scrutiny over the relationship between US energy interests, Venezuela鈥檚 oil sector and ongoing investigations into alleged corruption and money laundering.
