President Donald Trump has taken decisive action to protect billions in Venezuelan oil revenue held in the United States, signing an executive order to shield the funds from American courts and creditors.
Emergency Order Blocks Asset Seizures
The White House announced the emergency directive on Saturday, 10th January 2026. Issued the previous day, the order explicitly blocks US courts or creditors from impounding revenue generated from Venezuelan oil sales, which is held in special accounts at the US Treasury.
The directive states these funds, held in foreign government deposit accounts, should be used inside Venezuela to foster "peace, prosperity and stability." This significant move comes less than a week after US forces captured Venezuelan leader Nicolas Maduro in Caracas.
Protecting Sovereign Funds from Corporate Claims
The order declares the money to be the sovereign property of Venezuela, held by the US for governmental and diplomatic purposes, and therefore not subject to private legal claims. This is a critical development for several major energy firms.
Companies including Exxon Mobil and ConocoPhillips hold longstanding claims against the South American nation, dating back nearly two decades to when their assets were nationalised. They are still owed billions of dollars in compensation.
The White House, in a fact sheet, stated: "President Trump is preventing the seizure of Venezuelan oil revenue that could undermine critical U.S. efforts to ensure economic and political stability in Venezuela." The order itself does not mention any specific company.
A New Deal for Oil and Investment
This legal manoeuvre is intertwined with a broader US strategy for Venezuela. An agreement with the country's interim leadership would see up to 50 million barrels of Venezuelan crude oil supplied to the United States, where numerous refineries are specially configured to process it.
President Trump cited the 1977 International Emergency Economic Powers Act and the 1976 National Emergencies Act as the legal basis for his order.
Notably, he signed the directive on the same day he met in Washington with executives from Exxon, Conoco, Chevron, and other oil giants. The meeting was part of an effort to encourage the firms to invest a staggering $100 billion into Venezuela's beleaguered oil industry, signalling a potential large-scale rebuilding of the sector under new leadership.
