Trump signed an executive order on January 9 to protect Venezuelan oil revenues from creditors as part of a sweeping effort to stabilize the country’s economy and restore American energy operations following the removal of Nicolas Maduro, Reuters reported.

The order blocks courts or creditors from impounding Venezuelan sovereign property held in US Treasury accounts. The move seeks to shield vital revenue from roughly $150 billion in outstanding debt claims held by various international entities.

During a White House meeting with energy executives, President Trump emphasized a “clean slate” approach to past expropriation losses, prioritizing the estimated $100 billion in new investment needed for the sector.

US Treasury Secretary Scott Bessent told Reuters that additional sanctions could be lifted as soon as next week to facilitate immediate crude oil sales. The Treasury is also exploring the repatriation of sale proceeds to Venezuela and the conversion of nearly $5 billion in IMF Special Drawing Rights to aid economic reconstruction. Bessent confirmed upcoming meetings with the IMF and World Bank to discuss their re-engagement with the country.

While Chevron, the only US major currently active in Venezuela, expressed readiness to immediately double its liftings, other industry leaders remained cautious. ExxonMobil CEO Darren Woods stated the company is prepared to evaluate a return but noted that current conditions remain “uninvestable” without durable legal protections and reforms to the national hydrocarbons law.

Similarly, ConocoPhillips CEO Ryan Lance, whose company is owed $12 billion for past seizures, called for the involvement of the US Export-Import Bank to guarantee the financing required to repair energy infrastructure.

The administration’s strategy includes a proposed agreement to supply up to 50 million barrels of Venezuelan crude oil to US refineries, which are specifically equipped to process the region’s heavy grades.