Washington, US, January 10 (ANI): US President Donald Trump on Friday signed an Executive Order declaring a national emergency to protect Venezuelan oil revenues held in US Treasury accounts from legal attachment or judicial seizure. The move is intended to advance US foreign policy and national security objectives, according to the White House. (The White House)
Under the order, revenue from Venezuelan oil and related diluent sales — classified as Foreign Government Deposit Funds — cannot be subject to attachment, judgment, lien, execution, garnishment or other judicial actions unless specifically authorised. The directive also prohibits transfers or dealings with these funds except as authorised, overriding previous directives that might have regulated access to them. (The White House)
The White House emphasised that these funds are considered the sovereign property of Venezuela, held in US custody for governmental and diplomatic purposes and not subject to private claims. By safeguarding them, the administration aims to prevent seizures that could undermine critical efforts to ensure political and economic stability in Venezuela. This includes objectives linked to reducing illegal immigration, disrupting illicit narcotics flows, and countering influence from groups such as Iran and Hezbollah, according to the presidential fact sheet. (The White House)
The order was issued under the authority of the International Emergency Economic Powers Act and the National Emergencies Act, which allow the president to act when foreign threats to national security and foreign policy are identified. (The White House)
The announcement came amid broader US activity in Venezuela, including Trump’s recent meeting with major oil and gas executives to promote significant private investment in the country’s energy sector — an effort Trump said could generate substantial economic gains for both Venezuela and the United States. (reuters.com)
By protecting these funds, the US government seeks to maintain leverage and influence over the future use of Venezuelan oil revenue as part of its policy approach toward Venezuela’s political and economic transition. (The White House)
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