According to this order, the funds obtained from sales are held in accounts of the U.S. Treasury, as well as in accounts of the Central Bank of Venezuela and the state oil company Petroleos de Venezuela. The document notes that these revenues remain the property of Venezuela, and the U.S. acts only as custodians.
This freeze on operations is aimed at protecting the funds from potential judicial seizure, confiscation, and collection due to lawsuits. The frozen revenues receive protection from claims by private parties, such as creditors and business partners.
The order emphasizes that the threat of seizure or other judicial measures regarding Venezuelan oil could cause serious harm to U.S. national security and foreign policy, as well as complicate efforts to ensure economic and political stability in Venezuela. The document was adopted "for the benefit of the peoples of the U.S. and Venezuela."
At the same time, Treasury Secretary Scott Bessent stated that next week the U.S. plans to lift sanctions limiting the sale of Venezuelan oil.
Earlier, Trump reported that the U.S. received Venezuelan oil worth $4 billion in one day.
