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US Slaps New Sanctions on Venezuela's Oil Sector and "Shadow Fleet"

The US Treasury Department has imposed new sanctions on four companies and identified four oil tankers as blocked property within Venezuela's oil sector. The action targets what officials call a "shadow fleet" used to generate revenue and evade sanctions for President Nicolás Maduro's government. Treasury Secretary Scott Bessent stated the move is part of President Trump's campaign to prevent the "illegitimate Maduro regime" from profiting off oil exports. The sanctions reinforce US accusations that Maduro heads a "narco-terrorist" regime destabilizing the region and flooding the US with drugs.

Key Points: US Sanctions Venezuela Oil Firms & Tankers in Pressure Campaign

  • New sanctions on four firms & tankers
  • Targets Venezuela's "shadow fleet"
  • Part of pressure campaign on Maduro
  • Accusations of "narco-terrorist" regime
3 min read

US imposes new sanctions on Venezuela's oil sector

The US Treasury sanctions four companies and tankers in Venezuela's oil sector, targeting Maduro's "narco-terrorist" regime and its shadow fleet.

"We will not allow the illegitimate Maduro regime to profit from exporting oil while it floods the United States with deadly drugs. - Treasury Secretary Scott Bessent"

Washington, DC, January 1

The United States Department of the Treasury on Wednesday imposed sanctions on four companies operating in Venezuela's oil sector and identified four oil tankers as blocked property, according to an official release.

The move is part of President Donald Trump's renewed efforts to increase pressure on the Venezuelan President Nicolas Maduro.

The sanctions announced on Wednesday are aimed at four companies and their linked oil tankers, which are accused of being involved in the transport of Venezuelan oil.

"President Trump has been clear: We will not allow the illegitimate Maduro regime to profit from exporting oil while it floods the United States with deadly drugs," Secretary of the Treasury Scott Bessent said in a release.

"The Treasury Department will continue to implement President Trump's campaign of pressure on Maduro's regime," the release read.

Trump has alleged that Venezuelan President Nicolas Maduro heads what he describes as a "narco-terrorist" regime aimed at destabilising the United States, a claim that was reiterated in the latest sanctions announcement.

As per the official notice, these vessels, some of which are part of the shadow fleet serving Venezuela, continue to provide financial resources that fuel Maduro's illegitimate narco-terrorist regime.

"Maduro's regime increasingly depends on a shadow fleet of worldwide vessels to facilitate sanctionable activity, including sanctions evasion, and to generate revenue for its destabilising operations. Today's action further signals that those involved in the Venezuelan oil trade continue to face significant sanctions risks," the release read.

Recently, President Donald Trump said that it would be a "smart" move for Venezuelan President Nicolas Maduro to relinquish power, as the United States continues to ramp up military and economic pressure on the South American nation.

Responding to questions about whether his administration's current strategy is designed to force Maduro from office, Trump remained noncommittal about the specific endgame but was clear about his advice to the Venezuelan leader.

"Well, I think it probably would," Trump said when asked if the goal was to force Maduro out."Can't tell. That's up to him what he wants to do. I think it would be smart for him to do that. Again, we're going to find out."

"Look, Venezuela did terrible things to the United States," Trump said.

"Hundreds of thousands of people, millions of people, into our open border. They sent their criminals, they sent their prisoners, they sent their drug dealers, they sent their mentally insane and incompetent people into our country, more than any other country," he added.

- ANI

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Reader Comments

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Sarah B
Interesting to see this from India. Our country also has to navigate US sanctions, like with Iran and Russia. It's a complex game of geopolitics and energy security. Venezuela has huge oil reserves, but the situation is so tragic for its citizens.
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Arjun K
The US blaming Venezuela for sending people across its "open border" is a bit rich, considering their own foreign policy history in Latin America. Regime change tactics rarely work out for the average citizen. Focus should be on humanitarian aid, not just more pressure. 🇮🇳
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Priyanka N
As an Indian, I feel for the people of Venezuela. We know what economic hardship is. The world needs to help find a peaceful, democratic solution, not just isolate them. The "narco-terrorist" label seems like a justification for further intervention.
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Michael C
The language used here is very aggressive. "Shadow fleet", "narco-terrorist regime"... it escalates tensions. Would like to see more coverage of how other global powers like Russia and China, who support Maduro, are reacting to this.
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Karthik V
This directly impacts global oil prices. India imports a lot of oil. We need stable and diverse suppliers. This kind of volatility is not good for our economy. Hope our diplomats are engaging with all sides to ensure our energy needs are secure.

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