Trump protects Venezuelan oil revenues with new regulation
US President Donald Trump has signed an executive order to prevent courts or creditors from seizing revenues from Venezuelan oil sales held in US Treasury accounts.
The White House said this is an emergency measure, according to which the money is to be used in Venezuela to promote "peace, prosperity, and stability."
Trump signed the order on Friday, less than a week after US forces in Caracas detained Venezuelan leader Nicolás Maduro.
The document does not name specific companies, but declares that these are sovereign assets of Venezuela held in US custody for governmental and diplomatic purposes and therefore not subject to private claims.
Several companies, including Exxon Mobil and ConocoPhillips, which left after their assets were nationalized, have long-standing claims against Venezuela.
On the same day, Trump also met with representatives of Exxon, Conoco, and Chevron and, according to Reuters, called on them to invest up to $100 billion in the Venezuelan oil sector.
(reuters, lud)