U.S. to Retain or Sell Seized Venezuelan Oil and Tankers

In a recent press conference, President Donald Trump announced that the United States will either retain or sell crude oil and tankers seized off the coast of Venezuela. This development underscores ongoing U.S. efforts to apply pressure on Venezuelan leader Nicolás Maduro amid rising tensions in the region.

Why It Matters

The U.S. stance towards Venezuela and its oil resources signifies a significant escalation in the ongoing geopolitical struggle. With the Venezuelan economy reliant on oil exports for public financing, these strategic maneuvers could destabilize the already precarious government of Maduro, prompting urgent discussions at the international level.

Key Developments

• President Trump stated the U.S. will keep or possibly sell seized crude oil and tankers.
• The U.S. military has captured two oil tankers recently, with a third still pursued.
• Maduro condemned the seizures as “piracy,” while the U.S. accused Venezuela of using oil revenue to finance crime.
• A U.S. military strike in the eastern Pacific resulted in one death amid operations against alleged drug trafficking.
• The Trump administration has designated Maduro’s government as a foreign terrorist organization (FTO).
• The UN Security Council will hold an emergency session to discuss U.S. actions at Venezuela’s request.

Full Report

Seizures and Military Action

During a press conference in Florida on Monday, Trump elaborated on the U.S. approach to the Venezuelan oil and vessels. “We’re going to keep it,” he said, referring to the seized resources, adding that the U.S. may use the oil for its Strategic Reserves. The President also confirmed that the seized tankers would remain in U.S. custody.

The U.S. Coast Guard has been active in recent weeks, capturing two tankers linked to Venezuelan operations, as part of broader measures against what authorities label as the Venezuelan “dark fleet.” Trump indicated ongoing efforts: “It’s moving along, and we’ll end up getting it,” referring to a third tanker under pursuit.

Military Strikes and Maduro’s Response

Separately, U.S. Southern Command reported a military strike targeting a suspected trafficking vessel, which resulted in one fatality. These operations are part of a strategy to dismantle alleged drug smuggling networks tied to the Maduro regime, though Congress has expressed growing concerns regarding the lack of public evidence justifying these military actions.

Responding to Trump’s statements, Maduro criticized the U.S. approach, suggesting that Trump would benefit from focusing on domestic issues instead of meddling in Venezuelan affairs. The Venezuelan government has faced mounting pressure, and the latest U.S. measures, including a blockade on sanctioned oil tankers, have only fueled outrage in Caracas.

Context & Previous Events

Since assuming office in January, Trump has intensified efforts against Maduro, doubling the reward for information leading to his capture. The U.S. has accused Maduro of being a significant player in international drug trafficking, leading to the designation of his administration as a foreign terrorist organization. The U.S. military has bolstered its presence in both the Caribbean and Pacific regions to target alleged smuggling activities, amid mounting congressional scrutiny regarding its operations. In light of these tensions, the UN Security Council is set to convene to address what Venezuela terms “ongoing U.S. aggression.”