U.S. President Donald Trump has issued a new executive order aimed at protecting Venezuela’s oil revenues from legal claims.
The order states that the oil revenues belong to Venezuela, are being held by the United States for “governmental and diplomatic purposes,” and cannot be subject to private claims.
In the publicly released executive order, it was noted that leaving the funds in which Venezuela’s oil revenues are held unprotected could “undermine the United States’ critical efforts to promote economic and political stability in Venezuela.”
Prior to the announcement of the order, Trump said in a post on the U.S.-based platform Truth Social, “I love the people of Venezuela, and I have already begun working to make Venezuela rich and safe again.”
Following the U.S. military intervention in Venezuela, Trump met with senior executives of U.S. oil companies at the White House on January 9, stating that they would discuss rebuilding Venezuela’s oil industry and increasing production.
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