Treasury Secretary Steven Mnuchin says payments from U.S. refiners will go into an escrow account until Juan Guaidó or another leader replaces President Nicolás Maduro.
The 35-year-old politician declared himself acting president this week, and has been recognized as the country's president by the Trump administration.
Opposition leader Juan Guaidó vowed to form a provisional government that would hold elections and offered amnesty to military officers who help. But there are no reports of new troop rebellions.
U.S.-backed Juan Guaidó has declared himself president as he leads a high-stakes charge to end Nicolás Maduro's regime. Hitting back against U.S. support for Guaidó, Maduro ordered U.S. diplomats out.
President Trump recognized Juan Guaidó over Nicolás Maduro as Venezuela's president as protesters flooded the streets. Maduro said U.S. diplomats had 72 hours to leave.
Migrants are fleeing hyperinflation and widespread hunger. More than a dozen governments in the Americas have rejected the legitimacy of Maduro's re-election.
Judge Christian Zerpa fled with his wife and daughter and denounced President Nicolás Maduro's re-election. Venezuela's highest court said Zerpa left to avoid an investigation into sexual misconduct.
The meetings, reported by The New York Times, happened secretly after rogue officers contacted the U.S. government. The Trump administration apparently decided not to help the Venezuelan officers.
The country is responding to its currency's alarmingly rapid devaluation with an unlikely solution — by devaluing it further. But many economists are not impressed.