Trump signs order blocking legal claims on Venezuelan oil revenue
A week after US forces carried out overnight raids in Venezuela to seize President Nicolas Maduro, President Donald Trump has moved to secure control over the country's oil revenues. On Saturday, he signed an executive order that blocks any legal or judicial action against Venezuelan funds held in US accounts.
The White House said that Trump declared a national emergency to protect revenue generated from the sale of Venezuelan crude oil and related products, ensuring that the funds remain under US custody and insulated from court claims, creditor actions, or other legal processes.
According to a White House fact sheet, the executive order blocks any "attachment, judgment, decree, lien, execution, garnishment, or other judicial process" against foreign government deposit funds, explicitly including revenues from Venezuelan oil and diluent sales held in the United States.
The administration said the step was necessary to prevent legal actions that could weaken Washington's ability to shape political and economic outcomes in Venezuela. "President Trump is preventing the seizure of Venezuelan oil revenue that could undermine critical US efforts to ensure economic and political stability in Venezuela," the fact sheet said.
While stressing that the funds remain Venezuela's sovereign property, the White House said they are being held in US custody for governmental and diplomatic purposes and cannot be accessed by private or commercial claimants unless explicitly authorised.
The order follows a dramatic escalation in US actions against Caracas. Just days earlier, American forces conducted pre-dawn operations inside Venezuela, capturing Maduro and his wife and transporting the Venezuelan leader to the United States.
In explaining the rationale for the executive order, the White House said protecting oil revenues was essential to safeguarding US objectives. Administration officials argued that allowing courts or creditors to tap the funds could erode US leverage over developments in Venezuela and open the door to outcomes favourable to actors hostile to American interests.
White House Press Secretary Karoline Leavitt said the oil proceeds would now flow through US-controlled financial channels. "All proceeds from the sale of Venezuelan crude oil and products will first settle in US-controlled accounts at globally recognised banks," she said.
She added that "those funds will be dispersed for the benefit of the American people and the Venezuelan people at the discretion of the US government".
Trump framed the arrangement as a reset in bilateral economic ties. "In other words, Venezuela is committing to doing business with the United States of America as their principal partner - a wise choice, and a very good thing for the people of Venezuela, and the United States," he said.
The White House said the executive order overrides earlier regulatory frameworks and is consistent with US obligations under international law, while ensuring that Venezuelan oil revenues are preserved strictly for sovereign use.
