Venezuela Oil Exports Plunge Amid US Tanker Seizure, New Sanctions

• Venezuelan oil exports have sharply declined following the US seizure of the Skipper tanker and new sanctions on shipping companies.
• The US seizure of the Skipper tanker, carrying Venezuelan oil, marked a significant escalation in tensions between the US and Nicolás Maduro's government.
• Only US-authorized Chevron-chartered tankers are currently exporting Venezuelan crude, while other loaded vessels remain stuck in Venezuelan waters.
• Venezuela condemned the tanker seizure as "blatant theft" and "international piracy," vowing to file international complaints and withdrawing from the ICC.
• The incident occurs amid a US military buildup in the Caribbean and recent strikes against alleged drug vessels, escalating regional tensions.

Why It Matters: US actions are sharply cutting Venezuela's oil exports, escalating regional tensions.