Some sanctioned oil vessels divert from Venezuela as Trump threatens blockade

1 month ago 4

By JOSHUA GOODMAN, Associated Press

MIAMI (AP) — Some oil vessels are diverting away from Venezuela after U.S. President Donald Trump threatened a “blockade” of sanctioned oil tankers entering or leaving the South American country, a dramatic escalation in the White House’s pressure campaign on leader Nicolás Maduro.

Trump said Tuesday on social media, in all caps, that he is ordering a “total and complete blockade of all sanctioned oil tankers” into and out of Venezuela, a move that threatens to choke off revenue from the world’s largest oil reserves that are key to Maduro’s grip on power.

It’s not clear exactly what Trump meant by his threats. U.S. sanctions adopted during his first administration makes it illegal for Americans to purchase Venezuela’s crude oil without a license from the Treasury Department.