Trump Orders Safeguard for Venezuela Oil Revenue, Eyes Investment | Quick Digest
Former US President Donald Trump has reportedly signed an executive order to firewall Venezuelan oil revenues held in US Treasury accounts, shielding them from creditors. This directive also aims to facilitate US foreign policy objectives and potential investment in Venezuela's oil sector, following the reported capture of Nicolas Maduro.
Trump signed an executive order protecting Venezuelan oil funds in US.
Order prevents creditors from seizing Venezuela's oil revenue.
US seeks to advance foreign policy and stability in Venezuela.
Plans include potential US investment in Venezuela's oil sector.
Executive action follows reported capture of Venezuelan leader Maduro.
Former US President Donald Trump has reportedly signed an executive order declaring a national emergency to safeguard Venezuelan oil revenues held in US Treasury accounts. The order's primary purpose is to create a 'firewall' around these funds, protecting them from attachment, judgment, or other judicial processes by Venezuela's creditors. This move aims to prevent the seizure of these revenues, which the White House stated could undermine critical US efforts to ensure economic and political stability in Venezuela. The executive order affirms that these funds are the sovereign property of Venezuela, held in US custody for governmental and diplomatic purposes, and therefore not subject to private claims.
This action is reportedly linked to broader US foreign policy objectives, including promoting stability in Venezuela, curbing illegal immigration, blocking narcotics, and countering malign foreign influence in the Western Hemisphere. The Times of India and other sources further indicate that this order allows for investment in Venezuela's oil sector, with President Trump reportedly meeting with major oil executives to encourage significant investment in the country's petroleum industry. It has also been reported that Venezuela is expected to provide 30 million to 50 million barrels of sanctioned oil to the US for sale at market price, with proceeds managed by the US to benefit both American and Venezuelan people. The executive order comes in the wake of the reported capture of Venezuelan leader Nicolas Maduro by US forces. The US administration plans to selectively roll back sanctions to facilitate the transport and sale of Venezuelan crude.
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