According to CCTV News, the White House announced on Jan. 9 (local time) that US President Donald Trump signed an executive order declaring a national emergency. The stated aim is to "protect" Venezuelan oil revenues held in U.S. Treasury accounts from being "seized or entangled in legal proceedings."
In a statement, the White House claimed Trump is acting to prevent these revenues from being "seized," as such actions "could undermine critical U.S. efforts to ensure Venezuela's economic and political stability." The executive order ensures these funds are "preserved" to advance U.S. foreign policy objectives.
The order asserts that the threats of "seizure" or "legal proceedings" originate "wholly or substantially" from outside the United States and that Venezuelan oil revenues "held" by the U.S. government are not subject to claims by private creditors.
On Jan. 9, Trump met with approximately 20 oil company executives at the White House, urging them to invest US$100 billion in Venezuela to significantly increase oil production. The proposal did not receive a positive response, with most companies not publicly committing to swift investment. Trump stated he hoped U.S. oil firms would not negotiate directly with Venezuelan counterparts but instead engage with the U.S. government.
On Jan. 3, the United States launched a large-scale military operation against Venezuela, forcibly taking control of President Nicolás Maduro and his wife and transporting them to the U.S. The Trump administration declared its intent to "manage" Venezuela and exploit its vast oil reserves.
(Source: Wen Wei Po)
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