- Sanctioned Vessels Load Venezuelan Crude After US Pressure Escalates.
- Naval Blockade Targets Shadow Fleet Oil Trade.
- PDVSA Faces Storage Crunch as Exports Disrupted.
Since December 11, at least six sanctioned tankers have been spotted loading oil from Venezuela, following the U.S. ramping up pressure on Venezuelan oil exports, as shown by vessel tracking data. Interestingly, despite the heightened enforcement aimed at vessels involved in illegal oil trading, loadings from Venezuelan ports seem to have kept up a fairly normal pace in recent weeks, reports Oil Price.
US Escalates Political and Military Pressure
Earlier this month, the Trump Administration intensified its stance against Venezuela’s leadership by labelling the ruling regime as a “foreign terrorist organisation.” President Donald Trump has also put a naval blockade in place off the coast of Venezuela to intercept sanctioned vessels coming to and from the country. Over the weekend, the U.S. even seized a second oil tanker just offshore from Venezuela.
US Officials Issue Warning
Commenting on the latest seizure, U.S. Homeland Security Secretary Kristi Noem wrote on X: “The United States will continue to pursue the illicit movement of sanctioned oil that is used to fund narco terrorism in the region. We will find you, and we will stop you.”
In a separate interview with Fox & Friends on Monday, Secretary Noem said: “We’re not just interdicting these ships, but we’re also sending a message around the world that the illegal activity that Maduro is participating in cannot stand, he needs to be gone, and that we will stand up for our people.”
Shadow Fleet Exports Facing Challenges
A significant portion of Venezuela’s crude oil is transported to Asia via shadow-fleet tankers. However, the U.S. naval blockade is increasingly hindering this trade, which is vital for the government’s revenue in Caracas. Meanwhile, the Trump Administration is still allowing a limited amount of Venezuelan crude to be exported to the U.S. Gulf Coast, thanks to a special operating license issued to a U.S.-based energy company.
Oil Trade Disruptions Impact State Producer
President Trump’s military actions against Venezuela are putting an estimated $8 billion shadow-fleet oil trade at risk. U.S. pressure is causing disruptions in exports, leading to tankers being rerouted, crude oil piling up offshore, and the state oil producer facing the looming threat of well shut-ins due to dwindling storage capacity.
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Source: Oil Price
