Tensions between Washington and Caracas are expected to rise rapidly after U.S. President Donald Trump issued an order on Tuesday to ban any sanctioned oil vessels entering and departing Venezuela.
How the Trump administration will enforce the blockade against the sanctioned ships is unknown, as is if he will use the Coast Guard to interdict ships, as he did last week. In recent months, the administration has sent thousands of soldiers and almost a dozen warships including an aircraft carrier to the area.
"For the theft of our Assets, and many other reasons, including Terrorism, Drug Smuggling, and Human Trafficking, the Venezuelan Regime has been designated a FOREIGN TERRORIST ORGANIZATION," Trump stated on Truth Social.
"Therefore, today, I am ordering A TOTAL AND COMPLETE BLOCKADE OF ALL SANCTIONED OIL TANKERS going into, and out of, Venezuela."
Following Trump's order to impose a ban on sanctioned oil vessels departing or entering Venezuela, U.S. crude futures rose more than 1% to $55.96 per barrel in Asian trading. Tuesday's closing price of $55.27 per barrel was the lowest since February 2021.
Following the U.S. seizure of a sanctioned oil tanker off the coast of Venezuela last week, there is an effective embargo in place; laden boats carrying millions of barrels of oil choose to remain in Venezuelan seas rather than run the chance of being detained.
Questions were forwarded to the White House by the Pentagon. A request for comment was not immediately answered by the Venezuelan communications ministry, which manages all government press inquiries.
Maduro stated, "Imperialism and the fascist right want to colonize Venezuela to take over its wealth of oil, gas, gold, among other minerals," at a speech on Tuesday night before to Trump's post. We have made a firm commitment to protecting our country, and peace will prevail in Venezuela."
At least 90 people have died as a result of more than 20 military strikes on ships in the Pacific and Caribbean seas close to Venezuela, as well as an increased military presence in the area during Trump's campaign.
Additionally, Trump has declared that American land strikes on the South American nation will soon begin. The U.S. military buildup, according to Maduro, is intended to topple him and seize control of the OPEC country's oil reserves, which are the biggest in the world.
