How Venezuela sends oil around the world despite sanctions - and why Trump wants to stop them
Why Trump wants to stop Venezuela selling oil – and how they still manage it
- The US administration has ordered a "total and complete" blockade of sanctioned Venezuelan oil tankers, intensifying its pressure campaign against Nicolas Maduro’s government.
- This action follows the recent seizure of a Venezuelan oil tanker by US forces, which Caracas condemned as an "act of international piracy".
- The US administration claimed Venezuela was "completely surrounded by the largest Armada ever assembled in the History of South America" and demanded the return of "stolen" assets.
- Despite holding the world's largest proven oil reserves, Venezuela's exports are severely limited by US sanctions, leading it to sell oil at a discount, mainly to China, using a "shadow fleet" of tankers.
- The US administration's escalating actions, including military strikes and statements from officials, suggest a potential aim for regime change in Venezuela, which could secure US access to cheaper oil and offer a geopolitical advantage.