Anna Hartz
The Caribbean has long been a place of trade routes and naval power.
Today, it is once again at the center of a tense struggle over oil, sanctions, and political pressure. What sounds like the plot of an action movie is now playing out on open waters, with real ships and real consequences.
Trump’s Oil Blockade
According to US officials, the United States is pursuing a third oil tanker near Venezuela after seizing two others earlier this month, reports El Economista. The moves are part of President Donald Trump’s effort to tighten an oil blockade against the government of President Nicolás Maduro. Venezuelan officials have accused Washington of piracy and say the actions are illegal.
One of the ships under pursuit is the Bella 1. It is a Panama-flagged tanker that is under US sanctions. The vessel is 333 meters long and was built in 2002. Sources told Bloomberg that it was heading toward Venezuela to load fuel. US authorities believe the ship was sailing under a false flag and is covered by a court order allowing its seizure.
Earlier this month, US forces boarded two other tankers called Centuries and Skipper. The Centuries was not publicly listed under US sanctions. White House officials later said it was carrying oil owned by Venezuela’s state company PDVSA. Venezuela’s vice president and oil minister Delcy Rodríguez called the boarding a serious act of piracy.
Main Source of Income
The goal of the US strategy is to choke Venezuela’s main source of income. Oil exports are vital for the Maduro government. Analysts say that if Venezuela cannot sell its oil, storage tanks will fill quickly. PDVSA would then be forced to shut down oil wells.
The International Energy Agency reported that Venezuelan oil production dropped sharply in November. Output fell by 150,000 barrels per day to 860,000. Exports also declined. Tensions rose further after Trump called for stronger controls over Venezuelan airspace.
Venezuela produces extra-heavy crude oil. This type of oil needs special chemicals and lighter fuels to be exported. Without these imports, exports become almost impossible. The IEA noted that even delays to ships carrying these materials can disrupt production.
Most Venezuelan oil now goes to China through middlemen and aging tankers known as ghost fleets. US officials believe Venezuela depends more on these exports than its buyers depend on Venezuelan oil.
So far, global oil prices have not risen. Venezuela’s exports now make up less than one percent of global demand. For Caracas, however, the pressure is growing fast. If exports remain blocked, production cuts may come soon.
Sources: El Economista
