Trump signs emergency order protecting Venezuelan oil funds

U.S. President Donald Trump has signed an executive order to protect Venezuelan oil revenue held in U.S. Treasury accounts, preventing courts or private creditors from seizing the funds. The White House announced the move on Saturday, calling it necessary to support stability in Venezuela.

The order, signed on Friday, classifies the revenue as sovereign property belonging to Venezuela and held by the United States for diplomatic and governmental purposes. As a result, private legal claims cannot access the funds.

Order follows arrest of Nicolas Maduro

Trump signed the emergency order less than a week after U.S. forces captured Venezuelan leader Nicolás Maduro in Caracas. The administration said safeguarding oil revenue would help promote peace, prosperity, and political stability in Venezuela during the transition period.

The White House cited the International Emergency Economic Powers Act (1977) and the National Emergencies Act (1976) as the legal basis for the decision.

Oil companies still owed billions

Several U.S. oil companies hold long-standing claims against Venezuela after the government nationalized energy assets nearly two decades ago.

During a White House meeting on Friday, ConocoPhillips CEO Ryan Lance told Trump that his company is the largest non-sovereign creditor of Venezuela.

Trump responded that ConocoPhillips would recover “a lot” of its losses but stressed that future cooperation would start fresh.

“We’re not going to look at what people lost in the past,” Trump said.

Order bars private claims on oil funds

The executive order does not name specific companies. Instead, it states that Venezuelan oil revenue held in U.S. custody cannot be used to settle private lawsuits.

According to a White House fact sheet, allowing seizures could weaken U.S. efforts to rebuild Venezuela’s economy and political institutions.

Oil deal could send crude to U.S. refineries

U.S. officials said negotiations with Venezuela’s interim leadership could allow the shipment of up to 50 million barrels of crude oil to the United States. Many U.S. refineries already have the capacity to process Venezuelan heavy crude.

Trump met with executives from Exxon, ConocoPhillips, Chevron, and other oil firms the same day he signed the order, urging them to invest up to $100 billion in Venezuela’s oil sector.

Why the decision matters

Analysts say the move protects Venezuelan oil revenue while positioning the U.S. to influence the country’s economic recovery. By blocking legal seizures, Washington aims to stabilize oil income and encourage long-term investment.