Translation. Region: Russian Federation –
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
New York, January 10 (Xinhua) — U.S. President Donald Trump signed an executive order on Friday declaring a national emergency to "protect Venezuelan oil revenues held in U.S. Treasury Department accounts from seizure or garnishment," thereby ensuring the funds are preserved "to advance the foreign policy objectives of the United States," according to a White House statement.
The executive order blocks any seizure, judgment, order, lien, enforcement, lien, or other legal process against funds in deposit with foreign governments, which refers to Venezuelan oil and cuttings revenues held in U.S. Treasury Department accounts, the White House said.
The order also prohibits any transfers or transactions involving these funds, except as specifically authorized, and repeals any previous orders that might have blocked or regulated them.
“The possibility of seizure or judicial proceedings against funds in deposit with foreign governments constitutes an unusual and extraordinary threat to the national security and foreign policy of the United States that originates wholly or substantially outside the United States,” the statement said.
Funds held by foreign governments are the sovereign property of Venezuela, held by the United States for national and diplomatic purposes and not subject to private appropriation, the White House says.
U.S. Energy Secretary Chris Wright said on January 7 that the United States would not only sell Venezuela's oil reserves but would also permanently control sales of the country's oil production.
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