Washington DC - The US has disbursed more than $12 billion to Venezuela since taking control of the country's oil exports following the ouster of Nicolas Maduro, according to a report released Thursday.

The majority of deposits into a US-controlled fund from January to September have been disbursed back into Venezuela, said the report prepared by KPMG and released by the State Department.

The report, first reported on by The New York Times, provides details of US financial oversight and control over Venezuela after its forces captured Maduro in a dramatic raid in January.

Since Maduro's ouster, interim leader Delcy Rodriguez has led Venezuela, while Washington-backed talks on the country's democratic future are ongoing. The US, for its part, has eased a series of sanctions linked to the country.

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Between January 3 and September 30, "the Venezuela Custody Account received deposits totaling more than $12.26 billion from verified and approved entities engaging in authorized activities related to Venezuelan natural resources," said the KPMG report.

This refers to an account controlled by the US Treasury Department to manage Venezuelan export revenues after Maduro's capture. It was initially based in Qatar.

Crude oil and petroleum-related deposits were the biggest source of inflows, while others involved gold, minerals, and fertilizers.

Of the total amount, some $12.1 billion has been disbursed. As of September 30, about $168.6 million remained in custody for future authorized disbursements.

A US State Department official said this report was provided to Congress in early November. It was dated October 29 – just days before US midterm elections.

"Those funds are the property of Venezuela, held on behalf of the Government of Venezuela," the US official added.

Venezuela's interim government requests the funds, and the US State Department has to approve these requests against an agreed list of uses. The US Treasury Department then makes payments.

A currency intervention mechanism is one channel of disbursement, and the report showed that over 35% of such distributed funds circulated through the food and consumer goods sector.

Other sectors included administrative services, agriculture and health care.