"Trump said in the recent order, signed late Friday, that losing control of Venezuelan oil revenue would "materially harm the national security and foreign policy of the United States" by undermining efforts to stabilize Venezuela. The White House links that stability to "ending the dangerous influx of illegal immigrants and the flood of illicit narcotics" and to countering "malign actors such as Iran and Hezbollah." The order defines "Foreign Government Deposit Funds" as Venezuelan government funds in designated Treasury accounts that come from the sale of natural resources or diluents."
"Any "attachment, judgment, decree, lien, execution, garnishment, or other judicial process" against those funds is "prohibited, and shall be deemed null and void," unless specifically licensed, Trump said in the order. The president said on Truth Social on Saturday, though without providing specifics: "I love the Venezuelan people, and am already making Venezuela rich and safe again.""
U.S. oil companies did not commit to rapid investment in Venezuela after meeting with the president, while senior officials indicated plans to manage Venezuelan oil sales and revenue indefinitely. The presidential order asserts that losing control of Venezuelan oil revenue would materially harm U.S. national security and foreign policy by undermining stabilization efforts. The White House links Venezuelan stability to reducing illegal immigration, stopping illicit narcotics flows, and countering malign actors such as Iran and Hezbollah. The order defines Foreign Government Deposit Funds as Venezuelan government resource-sale proceeds in designated Treasury accounts and prohibits judicial actions against those funds unless specifically licensed.
Read at Axios
Unable to calculate read time
Collection
[
|
...
]