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President Donald Trump has signed an executive order blocking U.S. courts from seizing Venezuelan oil revenues held in American Treasury accounts.
The order states that court action against the funds would undermine U.S. national security and foreign policy objectives.
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Trump signed the order on Friday, the same day that he met with nearly two dozen top oil and gas executives at the White House.
The president said American energy companies will invest $100 billion to rebuild Venezuela’s “rotting” oil infrastructure and push production to record levels following the capture of Venezuelan dictator Nicolás Maduro.
The U.S. has moved aggressively to take control of Venezuela’s oil future following the collapse of the Maduro regime.
This is a developing story. Please check back for updates.
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