US Imposes New Sanctions on Venezuela’s Oil Sector Targeting Shadow Fleet
According to the International Desk of Webangah News Agency, the US Treasury Department announced new sanctions on Wednesday targeting four Venezuelan oil companies and their affiliated tankers. The move is part of President Donald Trump’s intensified campaign against Nicolas Maduro’s administration, which includes increased US military presence in the Caribbean and interdiction of vessels allegedly involved in drug trafficking.
The sanctions specifically target oil traders accused of helping Maduro’s government circumvent existing restrictions. Among the designated entities are four tankers described by US officials as part of a ‘shadow fleet’ – aging vessels with unclear ownership that operate without proper international insurance standards while transporting sanctioned oil.
“Today’s action makes clear that those participating in Venezuela’s oil trade continue to face serious sanctions risks,” stated the Treasury Department. Treasury Secretary Scott Bensett quoted President Trump as saying: “We will not allow Maduro’s illegitimate regime to profit from oil exports while flooding America with deadly drugs.”
