Trump order says Venezuelan oil revenue is being held by U.S. for 'governmental and diplomatic purposes' and not subject to private claims | Fortune

"If the funds were to be seized for such use, it could "undermine critical U.S. efforts to ensure economic and political stability in Venezuela.""

""If we look at the commercial constructs and frameworks in place today in Venezuela, today it's uninvestable," said Darren Woods, CEO of ExxonMobil, the largest U.S. oil company, during a meeting convened by Trump with oil executives on Friday."

""I love the Venezuelan people, and am already making Venezuela rich and safe again," Trump, who is currently in southern Florida, wrote on his social media site on Saturday."

""Congratulations and thank you to all of those people who are making this possible!!!""

An executive order protects Venezuelan oil revenues from seizure to prevent their use in judicial proceedings that could undermine U.S. efforts to ensure economic and political stability in Venezuela. The order aims to keep the funds available and shield them from court-ordered claims. Oil-company executives cautioned that Venezuela's political turmoil, state asset seizures, sanctions, and uncertainty make the country unattractive for private investment and rebuilding. The administration seeks U.S. oil company involvement, has seized tankers, plans to control sales of tens of millions of barrels of Venezuelan crude, and frames the effort in economic terms.

Read at Fortune