Statement on Signing an Executive Order Prohibiting Certain Additional Transactions With Respect to Venezuela
Issued 2018-05-21 by Donald J. Trump
Plain-English Overview
AI-generated summary explaining what this action does, who it affects, and why it matters
On May 21, 2018, President Trump signed an executive order preventing Venezuela's government from selling off or using certain national assets as collateral. The order specifically targets what the administration called potential "fire sales" of Venezuela's critical assets and blocks the regime from earning money through the sale of certain government-owned entities. According to the statement, the action was designed to preserve assets that belong to the Venezuelan people and that the country would need to rebuild its economy.
The executive order affects the Venezuelan government under President Nicolás Maduro, restricting what financial transactions it can conduct with certain Venezuelan assets. The order was described as part of a series of actions taken by the Trump administration targeting the Maduro regime.
The President has authority to impose these kinds of economic restrictions under the International Emergency Economic Powers Act, which allows regulation of international economic transactions during declared national emergencies. While this statutory authority is well-established and has been used by presidents from both parties for foreign policy sanctions, the breadth of power it grants to the executive branch during emergencies that can last years has drawn some constitutional scrutiny.
AI-generated summary for educational purposes
Constitutional Analysis
How this action fits (or doesn't) within Article II authority and existing law
This executive order ("Statement on Signing an Executive Order Prohibiting Certain Additional Transactions With Respect to Venezuela") imposes sanctions or economic restrictions targeting Venezuela. The International Emergency Economic Powers Act (IEEPA) grants the President broad authority to regulate international economic transactions when a national emergency has been declared. Presidents from both parties have used IEEPA extensively for foreign policy sanctions.
While the statutory authority is well-established, IEEPA's breadth has drawn constitutional criticism. The statute delegates sweeping power to the President during emergencies that can last for years or decades. The non-delegation doctrine questions whether Congress can transfer such broad economic regulatory authority to the executive branch. Despite these concerns, courts have generally deferred to presidential sanctions decisions.
Official Summary
Administration of Donald J. Trump, 2018 Statement on Signing an Executive Order Prohibiting Certain Additional Transactions With Respect to Venezuela May 21, 2018 Today I have taken action to prevent the Maduro regime from conducting "fire sales," liquidating Venezuela's critical assets, assets the country will need to rebuild its economy. This money belongs to the Venezuelan people. I have signed an Executive order to prevent the Maduro regime from selling or collateralizing certain Venezuelan financial assets and to prohibit the regime from earning money from the sale of certain entities of the Venezuelan Government. The United States remains committed to the Venezuelan people, who have suffered immensely under the Maduro regime. We call for the Maduro regime to restore democracy, hold free and fair elections, release all political prisoners immediately and unconditionally, and end the repression and economic deprivation of the Venezuelan people. This order is the most recent in a strong, consistent stream of actions my administration has taken targeting the Maduro regime. N OTE : The statement referred to Executive Order 13835. It also referred to President Nicolas Maduro Moros of Venezuela. Categories