Executive Order 14373 - Safeguarding Venezuelan Oil Revenue for the Good of the American and Venezuelan People

Date issued: Jan. 09 2016

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TURBOFAC Commentary (371 words)

Notes:

1) This EO, which is modeled after the Executive Order on Protecting Certain Property of Da Afghanistan Bank for the Benefit of the People of Afghanistan (EO 14064), is aimed at facilitating the policy of the second Trump administration of allowing Venezuelan oil to pass through the U.S. “blockade” subject to the condition that funds used purchase the oil from PdVSA/the GoV are deposited in accounts controlled by the USG. See reporting at https://finance.yahoo.com/news/trump-signs-order-firewall-venezuela-170340263.html and fact sheet at https://www.whitehouse.gov/fact-sheets/2026/01/fact-sheet-president-donald-j-trump-safeguards-venezuelan-oil-revenue-for-the-good-of-the-american-and-venezuelan-people.

2) The EO pertains to a specific subset of property in which the GoV has an interest, i.e. the “Foreign Government Deposit Funds” (as defined in the EO). The EO states that the funds at issue are “sovereign property of the Government of Venezuela held in custody...