India, Jan. 11 -- President Donald Trump declared a national emergency to shield Venezuelan oil revenue held by the US government from being seized by private creditors. This came in the proclamation titled 'Safeguarding Venezuelan Oil Revenue for the Good of the American and Venezuelan People.'

"Accordingly, the preservation of the Foreign Government Deposit Funds is of the utmost importance to the United States," the president said in the proclamation, adding, "I therefore find that the possibility of attachment or the imposition of judicial process against the Foreign Government Deposit Funds constitutes an unusual and extraordinary threat to the national security and foreign policy of the United States, which has its source in whole ...