U.S. President Donald Trump has issued a new executive order aimed at shielding Venezuela’s oil revenues from judicial claims and legal enforcement actions.
The order specifies that the oil revenues are the property of Venezuela and are being held by the United States strictly for “governmental and diplomatic purposes,” and therefore cannot be subject to private creditor claims or asset seizure.
The publicly released executive order warns that failure to protect the funds managing Venezuela’s oil revenues could “undermine the United States’ critical efforts to support economic stabilization and political continuity in Venezuela.”
Ahead of the announcement, Trump stated on the U.S.-based Truth Social platform that he “supports the Venezuelan people” and has already initiated efforts to “restore Venezuela’s economic strength and security.”
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, noting that discussions would focus on the rehabilitation of Venezuela’s oil sector and potential production increases.
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