“The executive order, signed Friday and made public on Saturday, declared a national emergency to ensure Venezuelan oil revenue held in U.S. Treasury accounts won’t be targeted by lawsuits or creditor claims.
The order says failing to safeguard the revenue, held in Foreign Government Deposit Funds, “will substantially interfere with our critical efforts to ensure economic and political stability in Venezuela.”
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Several companies have long-standing claims against Venezuela, Reuters reported, noting Exxon Mobil and ConocoPhillips left Venezuela nearly two decades ago after their assets were nationalized and are both owed billions of dollars.
Trump gathered about a dozen executives from energy companies at the White House on Friday amid his administration’s push to get U.S. oil companies to invest in Venezuela. Trump told the executives that they would be dealing directly with the U.S., rather than the Venezuelan government.
ConocoPhillips CEO Ryan Lance told Trump that his company was still owed $12 billion and that the U.S. government has the chance to restore what’s been lost, according to Reuters.”
https://www.yahoo.com/news/articles/trump-signs-executive-order-safeguard-141009417.html