Trump’s Executive Order Shields Venezuelan Oil Revenues in U.S. Banks
U.S. President Donald Trump has signed an executive order to protect Venezuelan assets held in the United States. The move aims to support broader foreign policy goals while preventing the seizure of funds, including oil revenues.
The decision comes amid ongoing economic and political tensions involving Venezuela.
The order blocks any attempts to confiscate Venezuelan assets within U.S. jurisdiction. This includes revenues from oil, a key export for the South American nation. Officials have stressed that the measure aligns with long-term U.S. foreign policy objectives.
There is no designated U.S. Secretary of State overseeing a special protection process for these assets. Instead, sanctions and asset controls remain under the Treasury Department’s Office of Foreign Assets Control (OFAC). The agency enforces restrictions based on broader policy directives rather than a specific 'Spezialschutz' procedure.
The executive order ensures Venezuelan funds, particularly oil earnings, remain shielded from seizure in the U.S. The Treasury Department will continue managing sanctions through OFAC, maintaining existing regulatory frameworks. The decision reflects an effort to stabilize financial controls related to Venezuela.
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