The tension between the United States and Venezuela is continuing to rise. US President Donald Trump has ordered a total blockade of all sanctioned oil tankers entering and leaving Venezuela.
The accusation levelled at the Caracas government, announced yesterday by the American president in a social media post, is that it is using oil to finance drug trafficking and other crimes.
Trump also pointed out that Venezuela is currently surrounded by the largest fleet ever assembled to date.
Maduro’s regime has called Trump’s blockade a grotesque threat. “The President of the United States intends to impose in an utterly irrational manner, a supposed naval blockade on Venezuela with the aim of stealing the riches that belong to our homeland,” the government said in a statement.
Trump’s decision has already had the immediate effect of causing oil prices to rise on Asian markets. WTI rose 2% to $56.5 per barrel, while Brent topped $60 per barrel, with a 2.1%.increase.
According to various experts, the prolonged export ban could have serious repercussions on the Venezuelan economy, which is heavily dependent on crude oil exports.
Translation by Giles Foster
