US President Donald Trump has signed an executive order to protect Venezuelan oil revenues kept in US Treasury accounts. The White House confirmed the move on Saturday.
The order, signed on Friday, blocks those funds from being seized or challenged through legal claims. According to a White House fact sheet, the aim is to prevent the money from being subjected to “attachment or judicial process.”
Officials said the decision supports broader US foreign policy goals linked to Venezuela.
Move Tied to Stability Goals
The White House said Trump acted to stop any confiscation of Venezuelan oil income that could undermine US efforts in the country. The administration argued that safeguarding the funds would help Washington promote economic and political stability in Venezuela.
The step also reflects the central role oil plays in US policy toward the South American nation.
Military Pressure Still an Option
Trump has openly said that gaining access to Venezuela’s vast oil reserves was a key reason behind Washington’s push to remove former president Nicolás Maduro.
Earlier on Friday, Trump said he had cancelled a planned second round of military strikes. He pointed to the release of political detainees as one factor behind the decision. However, he also warned that military action remains possible if his demands are not met.
Trump Presses Oil Firms to Invest
During a White House meeting on Friday, Trump urged senior oil executives to invest in Venezuela’s energy sector. The response was cautious. ExxonMobil chief executive Darren Woods reportedly described Venezuela as “uninvestable” without major reforms.
Trump pushed back against that view. He said oil companies had operated in Venezuela in the past without proper safeguards under Maduro. He claimed the situation had now changed.
“Now you have total security. It’s a whole different Venezuela,” he said.
Washington to Control Engagement
Trump made clear that US oil companies would deal only with Washington, not Caracas, in developing Venezuela’s oil resources.
He also said energy firms had committed to investments worth about $100 billion. This comes despite the fact that Venezuela’s oil infrastructure has suffered badly after years of mismanagement and international sanctions.
The president earlier said the US planned to sell between 30 million and 50 million barrels of Venezuelan crude. He added that the proceeds would be used at his discretion. Trump also said that any money eventually sent to Venezuela would only be used to buy American-made goods.
China’s Oil Stakes Complicate Picture
China’s financial ties to Venezuela add another challenge. Estimates suggest Beijing is owed at least $10 billion. Much of this debt was repaid under Maduro through oil shipments.
Analysts say an interim Venezuelan government aligned with Washington could question the legality of those oil-backed loans. Such a move could also stop future repayments.
A Morgan Stanley research note said two Chinese state-owned companies — China National Petroleum Corporation and Sinopec — hold rights to 4.4 billion barrels of Venezuelan oil reserves. This is the largest share controlled by any foreign country.
Maritime Pressure Continues
Meanwhile, Washington has kept up pressure on oil shipments in the Caribbean. US authorities recently seized a fifth tanker carrying Venezuelan crude. Trump said the oil would be sold.
State oil company PDVSA confirmed that one vessel was returning to Venezuelan waters. In a statement, the company called it the “first successful joint operation” with Washington.