Washington D.C. – The White House announced Saturday that President Donald Trump has signed an executive order aimed at safeguarding proceeds from Venezuelan oil sales held in U.S. Treasury accounts from potential seizure or legal action.
According to a White House statement, the order, signed by President Trump on Friday, is designed to “further U.S. foreign policy objectives.” The statement elaborated, “President Trump is preventing the appropriation of Venezuelan oil revenues in a manner that could undermine vital United States efforts to ensure economic and political stability in Venezuela.”
The move follows a military operation on January 3rd, where U.S. forces apprehended President Nicolas Maduro and his wife, subsequently bringing them to the United States. Following the arrest, Trump declared that the U.S. would oversee Venezuelan affairs during a transitional period and that American companies would be sent to invest in the nation’s oil sector. No specific timeline for this transition has been provided.
On Friday, Trump urged oil company executives to swiftly return to Venezuela, as the White House seeks to secure $100 billion in investments.
Since Maduro’s arrest, Trump has rapidly framed the situation as a new economic opportunity for the United States. He has seized several tankers carrying Venezuelan oil, stating that the U.S. will sell 30 to 50 million barrels of previously sanctioned Venezuelan oil and control the sales globally indefinitely.
