WEST PALM BEACH, Fla. — The Trump administration has enacted a new executive order designed to protect Venezuelan oil revenues from being seized through judicial proceedings, framing the measure as essential to U.S. efforts to stabilize the South American nation’s economy and political landscape.
The order, released publicly on Saturday, establishes that oil funds controlled by the United States constitute Venezuelan government property held for “governmental and diplomatic purposes” and declares them exempt from private legal claims. President Trump justified the action by stating that potential seizure of these assets would “undermine critical U.S. efforts to ensure economic and political stability in Venezuela.”
This legal protection mechanism arrives amid growing concerns from major petroleum corporations about Venezuela’s investment climate. During a White House meeting convened Friday with industry executives, ExxonMobil CEO Darren Woods characterized Venezuela as “uninvestable” under current commercial frameworks, citing the country’s prolonged political turbulence, history of state asset seizures, and ongoing U.S. sanctions.
President Trump attempted to reassure energy company leaders during the discussions, promising they would negotiate directly with U.S. authorities rather than with Venezuelan government entities. The administration has identified attracting American oil investment to rebuild Venezuela’s crippled energy infrastructure as a primary objective following the ouster of Nicolás Maduro.
The White House has adopted an economically-focused approach to Venezuelan reconstruction, with measures including the seizure of tankers transporting Venezuelan crude, assumption of control over sales of 30-50 million barrels of previously sanctioned oil, and plans to manage global sales indefinitely. Trump reinforced his commitment via social media on Saturday, stating: “I love the Venezuelan people, and am already making Venezuela rich and safe again.”
The executive order derives its legal authority from the National Emergencies Act and the International Emergency Economic Powers Act, classifying potential litigation targeting oil revenues as an “unusual and extraordinary threat” to national security interests.