U.S. Shields Venezuelan Oil Revenues as Washington Moves to Reopen Ties With Caracas

Overview

• President Donald Trump signed an executive order protecting Venezuelan petroleum proceeds held in U.S. Treasury accounts from seizure or court actions, framing the funds as sovereign assets under U.S. custodial control.
• The U.S. Department of Energy said the United States has begun marketing Venezuelan crude, with all initial sales proceeds deposited in U.S.-controlled accounts and transactions set to continue on an open-ended basis.
• U.S. officials traveled to Caracas to assess reopening the embassy, and Venezuelan authorities said they would start restoring diplomatic relations as interim president Delcy Rodríguez maintains contact with Washington.
• PDVSA announced that, in a joint action with U.S. authorities, the tanker Minerva is returning to Venezuelan waters, as U.S. forces report further maritime interceptions tied to oil flows.
• Trump urged oil majors to invest up to $100 billion in Venezuela, but executives voiced legal and political obstacles even as Chevron signaled readiness to expand, and U.S. officials indicated more sanctions relief is under consideration.