Trump signs executive order to protect Venezuelan oil revenue.

President Trump signed an executive order intended to keep Venezuelan oil revenues held by the United States from being used in private judicial claims, and the order cites the National Emergencies Act and the International Emergency Economic Powers Act as its legal basis.

President Trump signed an executive order intended to protect Venezuelan oil revenues held by the United States from being used in private judicial proceedings. The order says such seizures could undermine U.S. efforts to support economic and political stability in Venezuela. It cites the National Emergencies Act and the International Emergency Economic Powers Act as the legal underpinning. The announcement followed a White House meeting with oil company executives who expressed caution about investing in Venezuela. Key points: - The order designates Venezuelan oil revenue held by the U.S. as property held for governmental and diplomatic purposes and not subject to private claims. - The administration described the risk of judicial seizure as an "unusual and extraordinary threat" and relied on emergency economic authorities (National Emergencies Act and IEEPA). - The action came as oil executives said Venezuela is currently uninvestable, and the White House has said companies would deal with the U.S. rather than the Venezuelan government; the administration has also taken custody of tankers and asserted control over sales of previously sanctioned crude. Summary: The executive order seeks to keep Venezuelan oil revenues under U.S. control and to limit private legal claims, which the White House says is important to U.S. efforts related to Venezuela's stability. The order rests on emergency economic powers and frames the move in commercial and diplomatic terms. Undetermined at this time.