As of January 2, 2026, more oil tankers are steering clear of Venezuela due to escalating threats from the U.S. to seize vessels that contribute to the regime of President Nicolas Maduro. Recent ship movements tracked by Bloomberg indicate that at least seven ships have either altered their routes or stopped at sea, following four additional ships that turned away after a U.S. boarding of the tanker Skipper in mid-December.
U.S. President Donald Trump has accused Venezuela of utilizing oil revenues to support criminal enterprises, including drug trafficking and terrorism. In response, U.S. forces have attacked vessels linked to drug trafficking, resulting in over 100 casualties, and have seized two oil tankers, currently off the Texas coast. Venezuela has dismissed these allegations and condemned U.S. actions as illegal.
In further developments, the U.S. conducted strikes on a facility in Venezuela that purportedly facilitated drug movement and imposed sanctions on several Chinese companies connected to Venezuelan oil trade. The ships that are avoiding Venezuelan waters can hold a combined 12.4 million barrels of crude oil. This shift has resulted in overflowing storage tanks and a significant decline in production from the critical Orinoco basin.
The disruption of oil exports is placing additional pressure on Venezuela’s struggling economy, which has already suffered from seven years of U.S. sanctions. Oil is vital for funding basic necessities in the country. However, U.S. oil giant Chevron continues to extract Venezuelan crude under a license from the U.S. Treasury Department.
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