Safeguarding Venezuelan Oil Revenue for the Good of the American and Venezuelan People
Headline: Blocks Court Claims on Venezuelan Oil Funds Held by Treasury
What it does: Agencies must preserve Venezuelan government funds in Treasury custody and bar judicial attachments unless authorized by regulations or licenses.
- Prevents creditors from seizing Venezuelan oil revenue held in U.S. accounts.
- Limits transfers or spending of those funds without U.S. government authorization.
- Requires Treasury and other departments to assert legal immunity for the funds in court.
Summary
This order declares a national emergency to protect Venezuelan oil revenue and other Venezuelan government funds held in U.S. Treasury accounts. It bars courts from attaching or seizing those funds and prohibits transfers or withdrawals except when the government issues specific licenses or rules.
The order directs the Treasury to hold the funds as custodial property, follow instructions from the Secretary of State, and work with the Attorney General and Energy Secretary. It also authorizes Treasury to make rules and to assert sovereign immunity in court.
The goal is to protect U.S. national security and help preserve stability in Venezuela.
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