Trump seeks to stop courts from seizing Venezuela oil revenue
CNBC••nation
Key Points:
- President Donald Trump signed an executive order to block the seizure of Venezuelan oil revenue held in U.S. Treasury accounts, citing national security and foreign policy concerns.
- The order declares the funds as sovereign property of Venezuela, held for governmental and diplomatic purposes, and warns that judicial attempts to seize them would interfere with efforts to stabilize Venezuela.
- This action follows the recent U.S. military capture of Venezuelan leader Nicolás Maduro and his wife, who face drug-trafficking charges and have pleaded not guilty.
- Trump met with oil industry executives to encourage investment in Venezuela’s oil sector, but ExxonMobil CEO described Venezuela as currently "uninvestable."
- The order references the International Emergency Economic Powers Act and the National Emergencies
