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

What does Executive Order 14373 do?

Invoking emergency economic powers, the order prohibited attachment, liens, garnishment and similar process against defined Foreign Government Deposit Funds unless licensed or authorized. Its definitions and exceptions govern the precise scope.

Later official evidence reviewed September 26, 2026: Treasury's March 2026 Venezuela sanctions guidance instructed covered oil-related payments into the Foreign Government Deposit Funds established under this order or another Treasury-directed account. The guidance does not disclose total deposits or how funds were ultimately spent.

Reading the operative provisions of Executive Order 14373

EO 14373 protects specified Venezuelan government oil revenues held in U.S. accounts from attachment, garnishment or other judicial process. It invokes emergency economic powers and restricts transfer or use of the covered funds unless authorized. The Federal Register text defines the covered property and the protections. The order does not automatically transfer ownership of the funds to the United States or to Venezuelan citizens.

Blocking or protecting assets from legal process is distinct from deciding who owns them. The order affects whether courts or creditors may attach specified funds while the emergency measure remains in place. Claims to the funds, sovereign-immunity questions and any judicial proceedings must be assessed under the relevant statutes and court orders. The executive order’s policy rationale does not itself adjudicate competing legal claims.

Treasury administers sanctions and account restrictions under delegated authority, and any release or use of funds must comply with the order and applicable law. Financial institutions need to determine whether an account or transaction is covered. The order also contains reporting and implementation duties that help trace the funds. To understand its practical effect, distinguish account protection, ownership, sanctions status and any later authorized disbursement.