Trump signs executive order to protect Venezuelan oil revenues held in US accounts

Key Highlights

• The administration said the move was designed to support Washington’s broader foreign policy objectives related to Venezuela. STORY CONTINUES BELOW THIS ADThe White House said Trump was acting to block any confiscation of Venezuelan oil earnings that could disrupt US efforts to promote economic and political stability in the South American nation. More from World Trump says he has 'canceled second wave of attacks' on Venezuela after release of political prisoners Trump to meet Venezuelan opposition leader Maria Machado next weekTrump, who has openly stated that access to Venezuela’s vast oil reserves was a central motivation behind Washington’s push to remove former president Nicolás Maduro, said earlier on Friday that he had cancelled a planned second round of military strikes.
• He cited, in part, the release of political detainees as a factor in the decision.
• However, the US president has continued to suggest that military force could still be used if his demands are not met. During a meeting at the White House on Friday, Trump urged senior oil executives to invest in Venezuela’s energy sector.
• The proposal was received cautiously, with ExxonMobil chief executive Darren Woods reportedly describing the country as “uninvestable” without sweeping reforms. Quick ReadsView AllUS will keep seeking wars while economy depends on oil and coal, says Colombia’s Petro‘Cannot be shared’: Nobel Committee on Machado’s Peace Prize offer to TrumpTrump countered that oil companies had previously operated without proper safeguards under Maduro’s government, but claimed conditions had now changed.
• “Now you have total security.