Trump signs order to block seizure of Venezuelan oil revenue in U.S.

President Trump signed an executive order declaring a national emergency to block seizure of Venezuelan oil revenue held in U.S. Treasury accounts; the order cites the International Emergency Economic Powers Act and the National Emergencies Act.

President Donald Trump signed an executive order intended to prevent courts and creditors from seizing Venezuelan oil revenue held in U.S. Treasury accounts. The order describes the funds as sovereign property held for governmental and diplomatic purposes and declares a national emergency. It cites the International Emergency Economic Powers Act and the National Emergencies Act as legal authority. The action followed a reported U.S. military operation that captured Venezuelan leader Nicolás Maduro and his wife; both were indicted on drug‑trafficking charges and have pleaded not guilty. Key facts: - The executive order aims to block judicial or creditor attempts to seize Venezuelan oil revenue held in U.S. Treasury foreign government deposit funds. - The order characterizes the funds as sovereign property and says any seizure would harm U.S. national security and foreign policy; it invokes the 1977 International Emergency Economic Powers Act and the 1976 National Emergencies Act. - The move comes after a reported U.S. military operation that captured Venezuela’s leader, who has been indicted and pleaded not guilty; the White House has also met with oil industry executives about investment in Venezuela. Summary: The order seeks to keep Venezuelan oil revenue in U.S. custody by treating the funds as sovereign and by declaring a national emergency under U.S. statutes cited in the text. Undetermined at this time.