The President of the United States, Donald Trump, signed an executive order declaring a national emergency to protect Venezuela's oil revenues deposited in accounts at the Department of the Treasury. The measure, announced by the White House, aims to 'safeguard' these resources from any attempt at embargo, seizure, or judicial claim by creditors of the South American country. According to the official fact sheet, the order establishes that these funds—termed 'Foreign Government Deposit Funds'—are considered the sovereign property of Venezuela under the custody of the U.S. government. This order comes just days after the Trump administration announced that Venezuela's interim authorities will deliver between 30 and 50 million barrels of oil for global marketing. The revenues from these sales will accumulate in the now-protected accounts. The White House has made it clear that the final disposition of these resources will be determined by the Secretary of State, on behalf of what Washington defines as the legitimate government of Venezuela, ensuring that the flow of crude and its benefits will serve to 'rebuild' the Venezuelan economy under U.S. tutelage. The U.S. will act solely as a custodian and not as a market participant, holding the funds until their sovereign disposition is determined. National Security Interest: Trump argued that allowing the embargo of these funds would constitute an 'extraordinary threat' to U.S. foreign policy and stability efforts in the region. Context: Following the capture of Maduro, control of the crude oil—and thus the revenues—shifted to the interim government, and therefore the funds are not subject to private legal processes or executions of judgments. Key Points of the Executive Order: Judicial Shield: All embargoes, liens, or enforcement proceedings against the oil funds in Treasury accounts are declared 'null and void.' Government Custody: The U.S. government acts as the custodian of these sovereign assets.
