Trump seizes Venezuelan oil assets as regional tensions escalate over Greenland

The White House East Room on Friday afternoon resembled something from another era—a medieval court, observers noted, with President Trump at its center, flanked by oil executives who had traveled from across the globe. They had come to pay homage and position themselves for what comes next: the division of Venezuela's energy sector. The mood was triumphant. Trump's administration had orchestrated the capture of Nicolás Maduro in Caracas, and now the machinery of American power was moving to consolidate control over the country's vast petroleum reserves. Secretary of State Marco Rubio called it historic. Vice President J.D. Vance praised it as magnificent. The executives from Conoco Phillips and Parsley Energy offered their gratitude.

That same Friday, Trump signed an executive order declaring a national emergency to prevent courts and creditors from seizing Venezuelan oil revenues held in U.S. Treasury accounts. The order was sweeping: it blocked any embargo, judgment, lien, execution, or judicial process against funds generated by Venezuelan oil sales sitting in American government accounts. The legal architecture was being constructed to ensure that whatever wealth flowed from Venezuela's energy sector would remain beyond the reach of courts and claimants—secured for the administration's purposes.

Meanwhile, in Caracas and beyond, the human consequences were unfolding in smaller, quieter ways. Families of political prisoners had spent three nights camped outside the Rodeo I prison near the capital, waiting for releases that the government had promised but was delivering slowly. Sixteen detainees had been freed so far, according to human rights organizations and opposition figures, but the pace felt glacial to those waiting. Among those released were Virgilio Laverde, a youth coordinator for the opposition party Vente Venezuela; Didelis Raquel Corredor, an assistant to activist Roland Carreño; and Antonio Gerardo Buzzetta Pacheco, an Italian-Venezuelan citizen. But there was also a death: a police officer detained in December on charges of treason had died in custody.

In Washington, Trump was also turning his attention to Cuba. Through his Truth Social platform, he issued a stark warning to the island nation: there would be no more oil, no more money. "ZERO," he wrote in capital letters, suggesting that Cuba negotiate "BEFORE IT IS TOO LATE." He noted that Havana had long depended on Venezuelan petroleum and Venezuelan wealth—a dependency that was now being severed. The message was unmistakable: realign or face isolation.

The State Department, meanwhile, was urging American citizens to leave Venezuela immediately. The Consular Affairs Bureau cited the risk of armed groups operating in the country, allegedly searching for American nationals or those sympathetic to U.S. actions, blocking roads and searching vehicles. The travel advisory was set at Level 4—the highest—recommending against all travel due to risks of detention, terrorism, kidnapping, arbitrary enforcement of local laws, crime, civil unrest, and inadequate healthcare infrastructure.

Venezuela's Foreign Ministry rejected the characterization entirely. Minister Yván Gil accused the United States of fabricating a false perception of danger based on nonexistent accounts. The country was calm, peaceful, and stable, he insisted. All populated centers, communication routes, checkpoints, and security systems were functioning normally. All weapons of the state remained under government control. The statement was a denial, but it was also a declaration of resolve in the face of American pressure.

In Stockholm, Sweden's Prime Minister Ulf Kristersson was sounding alarms about the broader implications. Speaking at an annual security conference in northern Sweden, he criticized what he called the "threatening rhetoric" directed at Greenland and Denmark by the Trump administration. Trump had declared on Friday that the United States needed to control Greenland to prevent Russia or China from occupying it—a claim he had repeated despite Nordic countries' denials that Russian or Chinese vessels were operating near the Arctic island. Kristersson argued that the rules-based international order faced a threat greater than it had in decades. He reminded his audience that Denmark had been a loyal ally for years, and that the United States should be grateful. The Swedish leader was explicit: his country was critical of American actions in Venezuela regarding international law, but even more critical of the rhetoric being directed at Greenland and Denmark.