According to the White House, this move is aimed at preserving Venezuela's oil money held in accounts of the US Treasury Department to serve the US foreign policy goals in the region, in the context of Washington's public desire to seize control of Venezuela's oil production and trade.
The decree clearly states the blocking of all forms of judgments, seizure orders, mortgages, confiscations, freezes or other judicial procedures aimed at revenue from Venezuela's oil sales, which is currently in the hands of the US Treasury.
The White House warns that if they lose control of this money, the US may inadvertently empower "hostile actors" such as Iran and Hezbollah, thereby directly threatening Washington's strategic goals.
President Trump said the US wants to ensure the right of US companies to access oil exploitation activities in Venezuela.
The statement was made just days after Venezuelan President Nicolas Maduro and his wife were arrested in a US force raid on a military complex in Caracas. The Venezuelan government has condemned this operation as a serious violation of national sovereignty.
On the same day of signing the decree, Mr. Trump met with US oil and gas industry leaders, declaring that US businesses would invest at least $100 billion in Venezuela's oil production sector.
Previously, US Secretary of Energy Chris Wright also said that Washington plans to sell Venezuelan oil "indefinitely", showing its intention to control long-term oil flows from this South American country.
However, not all US oil and gas corporations are optimistic. ExxonMobil CEO Darren Woods said that Venezuela currently "cannot invest" without comprehensive reforms in the energy sector.
US oil and gas companies have long had financial claims that have not been resolved in Venezuela, originating from the wave of nationalization of the oil industry in the 2000s under the late President Hugo Chavez, Mr. Maduro's predecessor.
President Trump cited these nationalization waves that he considered "unfair" as one of the reasons leading to the campaign targeting President Maduro.
Meanwhile, Ms. Delcy Rodriguez, a close ally of Mr. Maduro and currently the acting President of Venezuela, declared that Caracas is ready to cooperate in "beneficial" projects with all countries, including the United States. However, Venezuelan officials also affirmed that this country will not allow the United States to "deprive" its resources.
