Trump blocks judicial processes against Venezuelan oil revenue News
CaptainDarwin, CC BY-SA 4.0, via Wikimedia Commons
Trump blocks judicial processes against Venezuelan oil revenue

President Trump issued an executive order Saturday to block judicial processes from being instituted against Venezuelan oil funds held in the US, on the basis that it would “materially harm the national security and foreign policy of the United States.”

The order states that any judicial proceedings against funds from “the sale of natural resources” from the Venezuelan government would inhibit efforts to “ensure economic and political stability” in the country. It adds that they would interfere with numerous US foreign policy objectives, such as ending irregular migration, cracking down on the influx of narcotics, and protecting against foreign actors such as Iran and Hezbollah. It describes potential judicial processes as an “unusual and extraordinary threat,” and declares a national emergency.

There are three legal bases for the order, including the International Emergency Economic Powers Act, which gives the president a broad range of economic powers in national emergencies; the National Emergencies Act, which allows the president to declare national emergencies; and Section 301 of Title 3 of the US Code, which allows the president to delegate powers.

This order follows statements from Trump that US oil companies will invest billions into Venezuela, with his Energy Secretary Chris Wright saying that the US will control and market Venezuela’s oil “indefinitely.” The president called a meeting on Friday with oil executives to discuss rebuilding the country’s oil infrastructure, and announced that 30 million barrels of oil, worth $4 billion, are currently on their way to the US.

The CEO of ExxonMobil, Darren Woods, expressed concern about conditions in Venezuela, and said that country is currently “un-investable.” Trump responded angrily that he was “inclined” to keep ExxonMobil out of Venezuela.

Companies including ExxonMobil and ConocoPhillips say that Venezuela owes them billions of dollars over lost investments. Trump’s executive order could hinder these companies from recovering their claims.

Earlier this month, Venezuelan President Nicolás Maduro and his wife were captured and transferred to the US. Maduro pleaded “not guilty” to charges of narco-terrorism conspiracy and cocaine importation conspiracy in the US District Court for the Southern District of New York on January 5. Maduro’s vice president, Delcy Rodríguez, is serving as Venezuela’s interim president.

THIS DAY @ LAW

WWII National War Labor Board established

On January 12, 1942, President Franklin D. Roosevelt revived the National War Labor Board (NWLB) for World War II. In order to prevent wartime labor stoppages, the NWLB was set up to arbitrate labor disputes that arose during the war. The NWLB also managed wage controls over the airplane, automobile, shipping, mining, telegraph, and railway industries during the war. The original NWLB was created by President Woodrow Wilson during World War I for largely the same purposes. Read Cornell University's collection of NWLB files from both World Wars.