Venezuela Defies Trump's Oil Blockade Amid Escalating Tensions

World
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Moneycontrol•18-12-2025, 04:57
Venezuela Defies Trump's Oil Blockade Amid Escalating Tensions
- •Venezuela's state oil company PDVSA insists crude oil exports continue normally despite US President Trump's announced "total and complete blockade" of sanctioned tankers.
- •Trump escalated pressure, citing a heavy US military presence in the Caribbean and accusing Venezuela of taking "our oil" after nationalizing its industry.
- •Maduro discussed "escalation of threats" with UN Secretary-General Guterres, who urged restraint; China also defended Venezuela's sovereignty.
- •The US has increased military presence in the Caribbean and seized a tanker, actions Caracas views as a bid to topple Maduro and steal oil.
- •Analysts predict the blockade will severely impact Venezuela's economy, already under a 2019 US oil embargo, raising fears of intervention.
Why It Matters: Venezuela defies Trump's oil blockade as US pressure escalates, raising fears of economic crisis and intervention.
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