President Donald Trump has signed an executive order declaring a national emergency to safeguard Venezuelan oil revenue held in U.S. Treasury accounts from attachment or judicial process, ensuring these funds are preserved to advance U.S. foreign policy objectives.
The Order affirms the funds are sovereign property of Venezuela held in U.S. custody for governmental and diplomatic purposes, not subject to private claims.
Loss of control over these oil revenues would directly jeopardize U.S. objectives, including stemming the influx of illegal aliens and disrupting the flood of illicit narcotics, which has resulted in the death of countless thousands of American citizens. Loss of control over these revenues would also empower malign actors like Iran and Hezbollah while weakening efforts to bring peace, prosperity, and stability to the Venezuelan people and to the Western Hemisphere as a whole.
The Order comes even as President Trump is seeking to rebuild Venezuela's energy sector after the January 3 capture by the U.S. military of former Venezuelan dictator Nicolas Maduro.
“The departure of Maduro makes it possible - an incredible future for both nations, Venezuela and the United States, in which we will more closely integrate the economies of two major energy powers in the Western Hemisphere,” said President Trump at the White House during a meeting with U.S. oil and gas executives. They included the CEOs of Chevron, Exxon Mobil, and ConocoPhillips, among others.
All of these companies “are going to be treasured partners in bringing the nation of Venezuela back to life,” said President Trump, “restoring its economy, and generating great wealth for their companies and for their people, and also great wealth for the American people.”
The U.S. is determined that the wealth of Venezuela must benefit the people of the country. As Secretary of State Marco Rubio said, “We’re working very cooperatively with the interim authorities [in Venezuela] to provide a market for the sale of the wealth of Venezuela in such a way that benefits the people, both of the United States but also the people of Venezuela.”
President Trump will continue to defend American interests and strengthen hemispheric security. He said it is in the national interest of the United States to be surrounded by safe, secure, and stable countries.
By safeguarding Venezuela’s oil revenues, President Trump is promoting stability in Venezuela while advancing America first objectives: stopping illegal immigration, blocking deadly narcotics, and countering malign foreign influence.
President Donald Trump has signed an executive order declaring a national emergency to safeguard Venezuelan oil revenue held in U.S. Treasury accounts from attachment or judicial process, ensuring these funds are preserved to advance U.S. foreign policy objectives.