U.S. Moves to Protect Venezuelan Oil Funds Following Maduro’s Removal

President Donald Trump has signed an executive order aimed at safeguarding Venezuelan oil revenue held in U.S. accounts. The White House stated the action is intended to support U.S. foreign policy goals and promote stability in Venezuela.

The order specifically shields these funds from being seized by courts or creditors, citing U.S. national security interests. This step follows a meeting where President Trump encouraged U.S. oil executives to consider investing in Venezuela, a country with the world’s largest oil reserves.

The industry response was hesitant. ExxonMobil’s CEO described Venezuela as currently “uninvestable” without major reforms, reflecting longstanding disputes between foreign oil firms and the Venezuelan government.

Venezuela, under heavy U.S. sanctions since 2019, has seen its oil production plummet to about one percent of global output due to years of economic crisis and underinvestment.

The executive order comes one week after a U.S. military operation in Caracas resulted in the capture of former leader Nicolás Maduro and dozens of casualties among security forces.