U.S. Government Moves to Manage Venezuelan Oil Exports
In a significant move to assert control over Venezuela’s oil industry, President Donald Trump’s administration has seized two sanctioned tankers and announced plans to ease certain sanctions. This plan aims to oversee the global sale of Venezuelan petroleum, potentially increasing U.S. influence over international oil prices.
The administration’s recent activities come after the removal of President Nicolás Maduro, which has paved the way for the U.S. to dictate the flow of oil from the country with the largest proven reserves of crude oil. The Energy Department stated that oil would only be transported in compliance with U.S. laws and interests.
Vice President JD Vance, in an interview, emphasized the U.S. capability to control Venezuela’s financial resources by managing where its oil is sold. “We control the energy resources, and we tell the regime, you’re allowed to sell the oil so long as you serve America’s national interest,” Vance stated on Fox News Channel’s “Jesse Watters Primetime.” He added that this strategy applies pressure on Venezuela without endangering American lives.
Secretary of State Marco Rubio indicated that oil from the seized tankers in the North Atlantic and Caribbean Sea would be part of a new deal, allowing Venezuela to supply up to 50 million barrels of oil to the U.S. Rubio noted that Venezuela’s interim authorities are cooperating to avoid economic collapse.
Seizure of Additional Oil Tankers
The U.S. European Command announced on social media that the vessel Bella 1 was intercepted in the North Atlantic for breaching U.S. sanctions. Homeland Security Secretary Kristi Noem confirmed that the M Sophia was also seized in the Caribbean Sea. These vessels join the Skipper and the Centuries, previously apprehended by U.S. forces.
The Bella 1 was rerouted toward Europe after an earlier attempt to evade a U.S. blockade. When approached by the U.S. Coast Guard, it fled, leading to a pursuit. The ship was later renamed Marinera and flagged to Russia. Russia’s Foreign Ministry has demanded humane treatment for its nationals aboard, while a Russian lawmaker condemned the U.S. actions as “blatant piracy.”
Attorney General Pam Bondi disclosed that the Justice Department is investigating the crew of the Bella 1 for disobeying Coast Guard orders. Bondi warned that similar enforcement actions are being considered against other vessels.
Adjustments to Sanctions for Oil Sales
The Trump administration is “selectively” lifting sanctions to facilitate the sale of Venezuelan oil, as detailed by the Energy Department. This initiative is set to commence immediately, with proceeds managed by U.S.-controlled accounts and distributed at the discretion of Trump’s government.
Venezuelan state oil company PDVSA is negotiating with the U.S. for these transactions, comparing them to existing agreements with international firms like Chevron. Acting President Delcy Rodríguez described the U.S.-Venezuela economic relations as standard, emphasizing the importance of diversified international relations.
The U.S. also intends to authorize imports of oil field equipment and services to boost Venezuela’s oil production and invest in the country’s electricity grid to enhance production and living standards.
Shadow Fleet Involvement
Noem identified the seized ships as part of a “shadow fleet” engaged in smuggling oil for countries under sanctions, including Venezuela, Russia, and Iran. The U.K. defense ministry supported the Marinera’s capture, highlighting its links to a Russian-Iranian axis evading sanctions.
The M Sophia, recently active in Venezuelan waters, was apprehended in the Caribbean after operating without a transponder signal since July. According to TankerTrackers.com, 16 tankers departed Venezuela post-Maduro’s capture, with the M Sophia carrying 1.8 million barrels of crude oil, valued at approximately $108 million.
