President Donald Trump signed an executive order on Friday blocking courts and creditors from seizing Venezuelan oil revenue that is currently being held in U.S. Treasury accounts.
The order, titled “Safeguarding Venezuelan Oil Revenue for the Good of the American and Venezuelan People,” states that the oil money belongs to the Venezuelan government and is not the “property of any private party,” including major energy companies doing business with Venezuela.
Trump further deemed the possibility of legal action to seize the oil revenue an “unusual and extraordinary” national security threat, saying it would “materially harm the national security and foreign policy” of the United States.” He declared a national emergency in response.
Trending: Noem and Lewandowski waged campaign to oust Trump’s border leader: Sources
The order comes as Trump is looking to rebuild Venezuela’s energy sector after the U.S.
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!