"Venezuela's oil exports have plummeted since the United States seized an oil tanker off the country's coast this week and imposed new sanctions on shipping companies doing business with the embattled Latin American country. Oil tanker movements into and out of Venezuelan waters have almost come to a standstill, the Reuters news agency reported on Friday, after the US announced that it would seize more vessels as part of its military pressure on Venezuela's President Nicolas Maduro."
"The seizure on Wednesday of the Skipper tanker marked the first US capture of Venezuelan oil cargo since Washington imposed sanctions on Caracas in 2019. It also comes amid a US military build-up in the Caribbean, which appears designed to remove Maduro from power. Threats of more seizures have now left tankers loaded with about 11 million barrels of oil and fuel stuck in Venezuelan waters and fearing to venture further, according to data and documents reviewed by Reuters."
Venezuela's oil exports have fallen sharply after the United States seized an oil tanker and imposed new sanctions on shipping companies. Oil tanker movements into and out of Venezuelan waters have almost come to a standstill following US announcements of further seizures and a Caribbean military build-up. The seizure of the Skipper marked the first US capture of Venezuelan oil cargo since 2019, leaving tankers holding about 11 million barrels of oil and fuel stuck and reluctant to sail. Only tankers chartered by Chevron have exported Venezuelan crude to the US under government authorisation.
Read at www.aljazeera.com
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