The President of the United States, Donald Trump, declared a «national emergency» to safeguard the revenues generated from the sale of Venezuelan oil in the US Treasury accounts, which would prevent creditors of Venezuela’s foreign debt from claiming those funds. The White House stated that «President Trump is taking steps to prevent the confiscation of Venezuelan oil revenues, which could jeopardise US efforts» to ensure the political and economic stability of Venezuela. The directive «prevents any embargo, lawsuit, decree, right of retention, enforcement, or any other legal proceedings against» the funds held in United States government accounts arising from the sale of Venezuelan oil and «prohibits the transfer or management» of these resources. The announcement comes following a meeting between oil sector executives and Trump, who guaranteed global hydrocarbon companies «long-term government protection and security» with the aim of encouraging them to invest 100 billion dollars in Venezuela.
