Safeguarding Venezuelan Oil Revenue for the Good of the American and Venezuelan People

[EO 14373] is an executive action signed by the President that declares a national emergency to protect Venezuelan government funds held in U.S. Department of the Treasury accounts (Sec. 1, Sec. 2). The President directs that courts may not attach, seize, or otherwise subject those funds to judicial process and that the funds may not be transferred except as authorized by regulation or license (Sec. 3(a)–(b)). The President directs the Secretary of the Treasury to label and hold the funds as sovereign property and to follow the Secretary of State's instructions for disbursement (Sec. 5(a)(i)–(ii)). This matters because it determines who can access money derived from Venezuelan oil and can affect legal claims and diplomatic actions involving Venezuela (Sec. 4, Sec. 5).