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الوسم: Oil

  • Trump, Netanyahu Agree the U.S. Must Pressure Iran on Oil Sales to China

    Trump, Netanyahu Agree the U.S. Must Pressure Iran on Oil Sales to China

    President Donald Trump and Israeli Prime Minister Benjamin Netanyahu concurred during a White House meeting on Wednesday that the United States would intensify efforts to cut Iran’s oil exports to China, according to Axios, citing two U.S. officials familiar with the matter.

    “We agreed that we will pursue maximum pressure against Iran, including restricting Iranian oil sales to China,” a senior U.S. official told Axios on Saturday.

    In response to the report, China’s foreign ministry stated on Sunday that “normal cooperation between countries under international law is both reasonable and legitimate, and should be respected and protected.”

    China is responsible for over 80% of Iran’s oil exports. Any decrease in this trade would lead to reduced oil revenues for Iran.

    Last week, U.S. and Iranian diplomats engaged in discussions mediated by Oman aimed at reviving diplomatic negotiations regarding Iran’s nuclear program. Meanwhile, the U.S. has positioned a naval flotilla in the region as preparations continue for possible prolonged operations against Iran.

  • US Imposes Fresh Iran Oil Sanctions Soon After Talks End

    US Imposes Fresh Iran Oil Sanctions Soon After Talks End

    The U.S. announced fresh sanctions on Friday aimed at limiting Iran’s oil exports, targeting 14 ships shortly after indirect talks concluded in Oman between the two nations.

    State Department spokesperson Tommy Pigott stated that Iran uses its oil revenue to support destabilizing activities worldwide and to intensify repression within Iran.

    President Donald Trump remains dedicated to reducing Iran’s illegal oil and petrochemical exports through his maximum pressure campaign, Pigott emphasized in a statement.

    The Department of State declared that it would prohibit any transactions involving 14 vessels believed to be transporting Iranian oil, including ships registered in Turkey, India, and the UAE. Additionally, sanctions were announced against 15 entities and two individuals.

    Since Trump’s first term, the U.S. has implemented sanctions designed to compel all foreign nations to cease buying Iranian oil.

    Iran’s foreign minister had an indirect meeting in Oman with senior U.S. representatives involved in negotiations over Iran’s nuclear program, describing the atmosphere as “positive.”

    Meanwhile, Trump had previously threatened military action against Iran and increased the U.S. military presence near Iran’s coast.

  • Trump: India to Buy Venezuelan Oil Instead of Iranian

    Trump: India to Buy Venezuelan Oil Instead of Iranian

    US President Donald Trump announced that India plans to purchase Venezuelan crude oil, shifting away from Iranian oil imports.

    “That deal has already been made, that’s the concept of the deal,” Trump told reporters on Air Force One during his flight to his Florida vacation residence from Washington.

    Reuters reported last Friday that the US has indicated to India that it might soon resume buying oil from Venezuela to help offset reductions in Russian oil imports, citing three sources familiar with the matter.

    While India has limited Iranian oil imports due to US sanctions, it became a significant importer of Russian oil following Russia’s invasion of Ukraine in 2022, which prompted Western sanctions that lowered Russian crude prices.

    In August, Trump increased tariffs on Indian imports to 50% as leverage to encourage New Delhi to halt Russian oil purchases, warning that the rate could rise again if buying continued. However, Treasury Secretary Scott Bessent indicated this January that the additional 25% tariff on Indian goods might be lifted because Indian imports of Russian oil had decreased sharply.

    Back in March 2025, Trump also imposed a 25% tariff on countries purchasing Venezuelan oil, including India. Recently, the US eased some sanctions on Venezuela’s oil sector to facilitate American companies in selling Venezuelan crude.

    Trump’s remarks on Saturday suggest that US-India relations, which have been strained over the past year, are improving.

    He also mentioned that China is welcome to negotiate a deal with the US to purchase Venezuelan oil, though he provided no further details.

  • US lifts oil sanctions on Venezuela following reform measures

    US lifts oil sanctions on Venezuela following reform measures

    Venezuela’s oil sector received a major update as the National Assembly approved significant reforms to the country’s primary oil law. Shortly after, the US Treasury Department authorized a broad range of activities for American energy companies, marking a shift in sanctions policy. The license permits transactions involving Venezuelan-origin oil, including refining, export, sale, and transportation.

    Venezuelan acting President Delcy Rodriguez called the reform a “historic leap,” emphasizing that “important steps” are being taken. She made the remarks after speaking with President Donald Trump.

    Following the Congressional vote, Trump exerted pressure on Caracas to open its oil fields to U.S. investors, especially after the overthrow of Nicolas Maduro in a US-led military operation on January 3. The US-backed interim leader, Rodriguez, expressed a willingness to cooperate, arguing that foreign investment is essential to revitalize Venezuela’s struggling economy.

    The new law revises the 2006 regulations that compelled foreign firms to partner with PDVSA with majority control. This overhaul will facilitate the return of major US energy companies to Venezuela for the first time in two decades—a move that signals a significant departure from Hugo Chavez’s socialist policies which nationalized the country’s oil assets.

    Jorge Rodriguez, the parliament leader and brother of the interim president, highlighted that the reforms aim to help Venezuela recover from years of US sanctions. He stated, “Better days are ahead after the hardships,” as he approved the measure “for history and our future.” Trump claimed that the US now governs Venezuela’s oil market, asserting Rodriguez would be responsible for selling millions of barrels at market prices. Additionally, Rodriguez has already allocated $300 million from initial US crude sales to support the national currency, the bolivar.

    Venezuela holds roughly 20% of the world’s oil reserves, a former key crude supplier to the US. American firms operated there until Chavez’s nationalizations in 2007. The industry is slowly rebounding after years of neglect, corruption, mismanagement, and US sanctions, reaching a production level of 1.2 million barrels per day in 2025—up from 300,000 in 2020 but still well below the 3 million barrel-per-day output at the start of the century.

    Despite Trump’s praise for Rodriguez and his push for US investments, ExxonMobil and ConocoPhillips exited Venezuela in 2007 for refusing to cede majority control. Chevron remains the sole US company operating there under a special exemption. The revamped law provides more guarantees to private investors, relaxes exploration restrictions, and reduces taxes and royalties—marking a clear departure from Chavez’s oil model, though the state retains some control over contract issuance.

    The US Department of Energy has already announced plans to develop Venezuela’s oil resources and has begun marketing its crude. Rodriguez states that the reforms will facilitate investments in new and underdeveloped fields lacking infrastructure. These changes offer hope amid economic collapse and extensive migration, with workers like Karina Rodriguez from PDVSA expressing optimism about restoring national dignity through hydrocarbon development.

  • Trump issues oil warning, urges Cuba to negotiate with the US

    Trump issues oil warning, urges Cuba to negotiate with the US

    On Sunday, President Donald Trump urged Cuba to negotiate a deal with the U.S., emphasizing that the island will soon lose oil and financial support from Venezuela. Venezuela has traditionally been Cuba’s primary source of oil, but since Venezuelan President Nicolás Maduro’s capture by U.S. forces, Trump has pushingly prompted interim President Delcy Rodriguez to redirect Venezuelan oil shipments to the United States.

    Trump tweeted on Truth Social, “There will be no more oil or money going to Cuba—zero! I strongly recommend they make a deal before it’s too late.” He added, “For many years, Cuba depended heavily on large amounts of oil and money from Venezuela.”

    U.S. intelligence assessments depict a bleak economic and political outlook for Cuba. However, they stop short of confirming Trump’s claim that the island is “ready to fall,” according to Saturday reports from Reuters, referencing three sources with access to confidential analyses. The CIA reports that key sectors like agriculture and tourism are under immense strain due to frequent blackouts, sanctions, and other issues.

    Losing Venezuelan oil and support could complicate governance for the Cuban government, which has been in power since Fidel Castro’s revolution in 1959. Last year, Venezuela supplied an average of 27,000 barrels of oil daily to Cuba—about half of the nation’s oil shortfall—based on shipping data and Venezuelan state oil company PDVSA documents.

    In addition, Trump reposted a social media comment suggesting that Marco Rubio, whose parents emigrated from Cuba, might become the next leader of Cuba. The repost featured a message from user Cliff Smith, posted January 8, stating, “Marco Rubio will be president of Cuba,” accompanied by a laughing-crying emoji. Trump responded with, “Sounds good to me!”

    The user behind the post, a conservative Californian with fewer than 500 followers, wrote, “Let’s see how that unfolds,” or similar. His repost came a week after U.S. forces captured Venezuelan leader Nicolás Maduro in a nighttime raid in Caracas, which resulted in multiple casualties among Venezuelan and Cuban security personnel.

  • Trump issues emergency order to safeguard U.S.-held Venezuela oil revenue

    Trump issues emergency order to safeguard U.S.-held Venezuela oil revenue

    The White House announced that President Donald Trump has issued an executive order aimed at safeguarding U.S. funds generated from sales of Venezuelan oil following the removal of Nicolas Maduro. The order, signed on Friday, underscores Trump’s ongoing focus on Venezuela’s oil reserves, considering them a strategic asset in U.S. efforts to influence the country’s politics. The White House explained in a fact sheet that this move is designed to support U.S. foreign policy goals.

    The executive action comes shortly after a meeting in Washington where Trump encouraged top oil executives to invest in Venezuela. The response was cautious; ExxonMobil’s CEO described the country as “uninvestable” without significant reforms. ExxonMobil and ConocoPhillips left Venezuela in 2007 after refusing demands from then-President Hugo Chavez to relinquish majority control to the government. Both companies are still seeking to recover billions of dollars they claim Venezuela owes them. Currently, Chevron is the only major U.S. energy company authorized to operate in Venezuela.

    The order declares a national emergency to protect Venezuelan oil revenue held in U.S. Treasury accounts from seizure or legal claims, placing these funds under special protection. This measure is deemed necessary for U.S. national security and foreign policy reasons. According to the White House, “President Trump is preventing the seizure of Venezuelan oil revenue that could threaten important U.S. efforts to promote stability in Venezuela.”

    Venezuela, which has been under U.S. sanctions since 2019, possesses roughly 20% of the world’s oil reserves. Once a major supplier to the U.S., Venezuela’s oil production has fallen sharply, accounting for just about 1% of global output in 2024, mainly due to years of underinvestment, sanctions, and embargoes. Trump views the country’s vast oil resources as a potential lever in his strategy to lower U.S. fuel prices.

    The executive order follows a recent U.S. military operation in Venezuela that detained Maduro during a nighttime raid in the capital, resulting in casualties among Venezuelan and Cuban security forces.

  • Venezuela and US Engage in Talks to Restore Diplomatic Relations

    Venezuela and US Engage in Talks to Restore Diplomatic Relations

    Venezuela announced it has started negotiations with the United States to restore diplomatic relations, just days after U.S. forces ousted Nicolás Maduro from power. This move signals a step toward cooperation following the detention of Maduro and U.S. President Donald Trump’s assertion that he is now “in charge” of the South American nation.

    U.S. diplomats are currently in Caracas to discuss the reopening of Venezuela’s embassy, while in Washington, Trump has met with oil executives to explore gaining access to Venezuela’s extensive crude oil reserves. Foreign Minister Yvan Gil stated that Interim President Delcy Rodríguez’s government has decided to initiate an exploratory diplomatic process aimed at re-establishing formal relations with the U.S., including the reopening of embassies in both countries.

    John McNamara, the top U.S. diplomat in neighboring Colombia, along with other staff, traveled to Caracas for an initial assessment regarding a phased resumption of diplomatic activities, a U.S. official explained on condition of anonymity. Venezuela responded by promising to send a delegation to Washington.

    Rodríguez condemned what she called “the serious, criminal, illegal, and illegitimate attack” by the United States and vowed that Venezuela would continue to confront what she termed “this aggression” through diplomatic channels.

    Earlier Friday, Trump announced he had canceled a second round of provocative actions against Venezuela due to the release of some prisoners. Despite previous hints that force might be used to influence events in Venezuela—a country with the world’s largest proven oil reserves—Trump emphasized efforts to encourage U.S. oil companies to invest in Venezuela’s oil industry. However, ExxonMobil’s CEO, Darren Woods, urged caution, characterizing Venezuela as “uninvestable” without significant reforms.

    Trump highlighted that foreign companies would only engage with Washington, not Caracas, regarding oil operations. He also claimed that U.S. firms had committed to investing $100 billion in Venezuela, whose infrastructure has suffered from years of mismanagement and sanctions, and that the U.S. planned to sell 30 to 50 million barrels of Venezuelan crude, with proceeds to be used at the president’s discretion. Any funds sent to Caracas would be dedicated solely to purchasing U.S.-made products.

    Meanwhile, U.S. authorities maintained maritime pressure on Venezuelan oil tankers in the Caribbean, having seized a vessel carrying Venezuelan crude—an operation Trump described as a “first successful joint operation” with Caracas. Venezuelan state oil company PDVSA confirmed that one ship was returning to Venezuelan waters.

    Families gathered outside Venezuelan jails, awaiting the release of political prisoners—an action Washington credited itself for facilitating. One woman, Dilsia Caro, 50, expressed her relief upon learning her husband, Noel Flores, was to be released after being detained for criticizing Maduro.

    Venezuela began releasing prisoners on Thursday, marking the first such movement since U.S. forces detained Maduro during a deadly raid on January 3. Trump indicated he will meet next week with opposition leader María Corina Machado, whom he previously dismissed for lacking the “respect” to lead Venezuela.

    Exiled opposition figure Edmundo González Urrutia insisted that any democratic transition must recognize his claim to victory in the 2024 elections, which Maduro’s re-election—widely regarded as fraudulent—had declared him the winner. Meanwhile, González hopes for the release of his son-in-law, who has been detained in Caracas for a year.

    In Caracas, thousands of protestors gathered, demanding Maduro’s release in daily demonstrations. Maduro was previously captured during a raid involving U.S. special forces and airstrikes, which resulted in over 100 deaths. Authorities claimed Maduro and his wife, Cilia Flores, were transported to New York for trial on drug trafficking and other charges. Despite this, Foreign Minister Yvan Gil maintained that Venezuela was “not subordinate or subjugated,” even as he pledged cooperation with the U.S.

    The protests reflected ongoing tensions, with many Venezuelans opposing any form of U.S. intervention, especially after the attack that resulted in loss of life. One protester, 70-year-old Josefina Castro, called for independence from U.S. influence, lamenting the sacrifices made and condemning what she described as the damage caused by the raid.

  • US aims for lasting influence over Venezuelan oil exports

    US aims for lasting influence over Venezuelan oil exports

    The United States considers it essential to maintain control over Venezuela’s oil sales and revenues for an indefinite period. This strategy aims to stabilize Venezuela’s economy, aid in its oil sector recovery, and serve American national interests. High-ranking U.S. officials emphasized that controlling Venezuela’s crude oil exports is directly linked to exerting influence over the country itself.

    During the Goldman Sachs Energy, CleanTech & Utilities Conference in Miami, U.S. Energy Secretary Chris Wright stated, “To bring about the necessary changes in Venezuela, we must have leverage and control over its oil sales.” He explained that the revenue generated would be used not only to stabilize Venezuela’s economy but also to compensate oil giants like ExxonMobil and ConocoPhillips for losses incurred when their assets were nationalized by Hugo Chavez nearly twenty years ago.

    U.S. Vice President JD Vance added, “Controlling Venezuela’s oil means controlling the country.” He described this approach as a way to apply significant pressure without risking American lives, saying, “We manage energy resources and instruct the regime: ‘You can sell the oil if it aligns with America’s national interests; if not, you can’t sell it.’”

    Democrats have criticized this tactic. Connecticut Senator Chris Murphy compared it to “stealing Venezuela’s oil at gunpoint.” Industry analysts warn that such policies could lead to instability, especially as Venezuela balances its condemnation of Maduro’s government with the US’s strategic moves.

    Venezuela, sitting atop the world’s largest oil reserves, currently produces only about 1% of global oil, a sharp decline from the 1970s when production reached 3.5 million barrels daily, mainly due to decades of mismanagement and underinvestment.

    The U.S. energy secretary announced that the initial plan involves marketing stored Venezuelan oil supplies before selling ongoing production indefinitely, with proceeds deposited into accounts under U.S. control. This process has already begun, with major commodity traders and financial institutions involved.

    Wright mentioned ongoing discussions with U.S. oil companies to explore how they can support long-term efforts to increase Venezuelan oil output. He envisions the country becoming a prosperous, peaceful energy powerhouse with extensive resources.

    Recently, Washington agreed with Caracas to export up to $2 billion worth of Venezuelan crude to the U.S., an effort by interim President Delcy Rodriguez to comply with Trump’s demand that Venezuela open its oil industry to U.S. companies or face increased military pressure.

    President Trump announced via Truth Social that Venezuela plans to use proceeds from oil sales to buy American products, calling it a smart and beneficial decision for both nations.

    Venezuela’s national oil company, PDVSA, is negotiating with the U.S. for future oil sales, with the expectation that cargoes will be sold at fair market prices. Shares of U.S. refiners Marathon Petroleum, Phillips 66, and Valero Energy have risen between 2.5% and 5% in response.

    Additionally, President Trump is scheduled to meet this Friday with top executives from ExxonMobil, ConocoPhillips, and Chevron at the White House to discuss strategies for boosting Venezuela’s oil production. All three firms have prior experience operating within Venezuela’s oil sector, though they have declined to comment publicly.

    Wright noted he spoke with these companies’ CEOs immediately after Maduro’s removal, emphasizing their potential role in aiding Venezuela’s oil sector recovery. While they are unlikely to invest billions immediately, their expertise and advice are seen as crucial.

    He also indicated that part of the revenue from Venezuelan oil sales might be used later to compensate ExxonMobil and ConocoPhillips for their losses, but only after the country’s economy stabilizes. Currently, Chevron remains the only major U.S. oil company still operating in Venezuela.

    Historically, Venezuela produced around 3.5 million barrels per day in the 1970s, but mismanagement and limited foreign investment have diminished that to roughly 1.1 million barrels daily last year. Wright believes that with additional equipment and technology, short-term production increases are feasible, but a full recovery to historic levels will take years.

  • Venezuela to Ship $2B Oil to US in New Washington Deal

    Venezuela to Ship $2B Oil to US in New Washington Deal

    Venezuela and the United States have finalized an agreement allowing the export of up to $2 billion worth of Venezuelan crude oil to the U.S., announced President Donald Trump on Tuesday. This move aims to redirect supplies from China and help Venezuela avoid further reductions in its oil output.

    The deal signals that the Venezuelan government is responding to Trump’s demand for increased cooperation with U.S. oil companies, or face deeper intervention measures. Trump has stated he wants interim President Delcy Rodriguez to grant U.S. and private enterprises full access to Venezuela’s oil industry.

    Venezuela currently has millions of barrels of oil loaded on tankers and stored in tanks, unable to be shipped due to a U.S. export blockade imposed since mid-December. This blockade is part of increased pressure on President Nicolás Maduro’s government, which escalated last weekend when U.S. forces detained Maduro. Venezuelan officials have labeled Maduro’s detention a kidnapping and accused the U.S. of attempting to seize the nation’s significant oil reserves.

    Trump indicated that Venezuela will transfer between 30 and 50 million barrels of “sanctioned oil” to the U.S., stating on social media that the oil will be sold at market price, with the proceeds controlled by him to benefit both the Venezuelan and American people.

    U.S. Energy Secretary Chris Wright is tasked with implementing this agreement, with plans to transfer the oil directly from ships to U.S. ports. To supply this trapped crude, ships initially might be redirected from China, which has been Venezuela’s primary buyer for the past decade, especially since U.S. sanctions on Venezuelan oil trade were imposed in 2020.

    An industry source mentioned that Trump aims to make this happen soon to proclaim it as a major victory. Venezuelan government officials and PDVSA, the state oil company, did not comment on the deal.

    Following the announcement, U.S. crude prices dropped over 1.5%, with expectations that Venezuelan oil exports to the U.S. will increase. Currently, Chevron is the sole company authorized to export Venezuelan crude without interruption from the country, exporting between 100,000 and 150,000 barrels daily.

    It remains unclear whether Venezuela will have access to the proceeds from these sales, as sanctions continue to freeze PDVSA’s bank accounts and exclude it from global financial systems. Venezuela’s flagship crude, Merey, is currently trading around $22 below Brent per barrel, indicating a potential deal value of up to $1.9 billion. Interim President Rodriguez, recently sworn in, is also under U.S. sanctions since 2018 for undermining democracy.

    Discussions between Venezuelan and U.S. officials this week included potential sale mechanisms, such as auctions allowing U.S. buyers to bid on cargoes, and the issuance of U.S. licenses to PDVSA’s partners to facilitate supply contracts. Past licenses have enabled some of these companies—Chevron, Reliance (India), China National Petroleum, Eni, and Repsol—to access Venezuelan oil for refining or resale.

    Preparations hint at a resumed flow of Venezuelan cargoes to the U.S., with some traders adjusting their bids due to anticipated increased supply. The prospect of larger Venezuelan oil imports is viewed positively for U.S. refiners along the Gulf Coast, which are capable of processing heavy Venezuelan crude. However, without export pathways, Venezuela’s oil production may need to decrease further as storage fills up.

    Prices for Venezuelan heavy oil grades in the U.S. Gulf have dipped slightly amid the increased supply expectations.

  • Venezuela’s Interim Govt Stands by Maduro After U.S. Detention

    Venezuela’s Interim Govt Stands by Maduro After U.S. Detention

    Venezuela’s Vice President and Oil Minister Delcy Rodriguez speaks to the press in Caracas. — Reuters/File

    – Rubio states that it is “premature” to discuss new polls in Venezuela.
    – Streets remain calm as people wait for further developments.
    – The vice president has assumed interim leadership of the country.

    A senior Venezuelan official affirmed on Sunday that the government would remain united behind President Nicolas Maduro. His detention by the U.S. has created significant uncertainty about the country’s future, especially given its status as an oil-rich nation in South America.

    Maduro is currently held in a New York detention facility, scheduled for a court appearance Monday on drug-related charges. The U.S. president, Donald Trump, ordered his arrest and claimed control over Venezuela. Meanwhile, Caracas officials loyal to Maduro, who have labeled the arrests of Maduro and his wife, Cilia Flores, as kidnapping, continue to hold power.

    Interior Minister Diosdado Cabello reassured supporters via an audio message released by the ruling socialist party, PSUV, emphasizing the nation’s unity: “Here, the unity of the revolutionary force is more than guaranteed, and here, there is only one president—Nicolas Maduro Moros. Let no one fall for the enemy’s provocations.”

    Images of Maduro, 63, blindfolded and handcuffed on Saturday shocked Venezuelans, marking Washington’s most contentious intervention in Latin America since the invasion of Panama in 1989.

    Vice President Delcy Rodriguez, who also serves as Oil Minister, has temporarily assumed the presidency with judicial approval, although she maintains Maduro’s status as president. Known for her pragmatic approach due to her ties to the private sector and oil expertise—the country’s chief revenue source—she has publicly rejected Trump’s claims that she is willing to collaborate with the U.S.

    Venezuela’s government has long accused Trump’s pressure campaign of attempting to seize its vast natural resources, particularly oil. They pointed out Trump’s recent statements about U.S. oil companies moving into Venezuela as evidence of this intent.

    Cabello, with close military ties, voiced outrage, asserting, “In the end, it was all about our oil being the real prize.”

    Venezuela’s state oil firm, PDVSA, is instructing some joint ventures to reduce crude production by shutting down oil fields or groups of wells amid a halt in exports. This shutdown follows last month’s U.S. sanctions, including a blockade on Venezuelan oil tankers and the seizure of two shipments.

    The country, once among Latin America’s wealthiest, has seen its economy collapse under Maduro’s leadership, pushing approximately 20% of its population to flee, creating one of the world’s largest exoduses.

    ### US Expresses Willingness to Engage with New Authorities

    Secretary of State Marco Rubio indicated that the Trump administration intends to work with the current Venezuelan leadership, clarifying that the U.S. is not pursuing total regime change. Rubio stressed that the U.S. is focused on combating drug trafficking, not waging war against Venezuela.

    His comments responded to earlier statements from Trump, who suggested that the U.S. might take control of the country until a transition occurs, hinting at the potential for military intervention.

    Rubio emphasized during multiple Sunday interviews that Washington’s goal is not upheaval but cooperation, provided that Venezuela’s government complies with U.S. demands. He added that discussions about new elections are premature and that the focus remains on the current situation.

    ### Streets Remain Muted

    Despite the tense atmosphere, opposition figures are cautious about celebrating Maduro’s detention. On Sunday, security presence appeared lighter than usual. Some bakeries and coffee shops operated normally, and pedestrians, joggers, and cyclists went about their routines. Many Venezuelans were seen restoring supplies at local stores.

    A single mother in oil-rich Maracaibo explained her prudence: “Yesterday, I was afraid to go out, but today I had to. I was without food, and I need to figure things out. Venezuelans are used to enduring fear. If this helps my son grow up in a free country, I will bear it.”

    Similarly, a supermarket owner in Maracaibo noted that his store remained closed Saturday after U.S. special forces reportedly seized Maduro from military bases in Caracas and other locations.

    “We’ll be open until noon today. Many neighborhoods lack access to food, and we want to help,” he said.

    The opposition has expressed disappointment over Trump’s dismissal of Maria Corina Machado, a 58-year-old opposition leader and Nobel Peace Prize recipient, as a potential interim leader. Trump claimed she lacks sufficient support, despite her advocacy and the opposition’s belief that her ally, Edmundo Gonzalez—who reportedly won the recent election—has a democratic mandate.

    Uncertainty surrounds how Trump plans to manage Venezuela’s ongoing crisis, with some critics wary of foreign intervention and its implications. While Western nations generally oppose Maduro, there is widespread call for diplomacy and respect for international law. Questions also arise about the legality of foreign heads of state being detained.

    The UN Security Council is scheduled to meet Monday to discuss the U.S. actions, which Secretary-General Antonio Guterres warned could set a dangerous precedent. Major backers of Venezuela, Russia and China, have criticized the U.S. move.

    Maduro has faced U.S. charges, including narco-terrorism conspiracy, since 2020. He has consistently denied any criminal involvement.

  • US Eyes Third Oil Tanker Near Venezuela, Officials Confirm

    US Eyes Third Oil Tanker Near Venezuela, Officials Confirm

    A U.S. military helicopter flies over the Panama-flagged vessel Centuries, which was intercepted by the U.S. Coast Guard a few days after President Donald Trump announced a blockade targeting all sanctioned oil tankers moving in and out of Venezuela, east of Barbados in the Caribbean Sea on December 20, 2025. — Reuters

    The Coast Guard is currently tracking an oil tanker in international waters near Venezuela, according to officials who spoke to Reuters on Sunday. This marks the second such operation this weekend and could become the third in less than two weeks if the pursuit succeeds.

    A U.S. official stated, “The U.S. Coast Guard is actively pursuing a vessel that is part of Venezuela’s illegal sanctions evasion efforts. It is flying a false flag and is under a judicial seizure order.”

    Another official mentioned the tanker is under sanctions but clarified it hasn’t been boarded yet. Interceptions can take many forms—such as sailing close to or flying near vessels of interest. The officials, who requested anonymity, did not specify the operation’s exact location or disclose the vessel’s name.

    The White House did not immediately respond to requests for comment.

    Last week, President Trump declared a “blockade” on all sanctioned oil tankers entering or leaving Venezuela. The administration’s pressure campaign against President Nicolas Maduro has included increasing military presence in the region and launching more than two dozen strikes on vessels in the Pacific and Caribbean near Venezuela. At least 100 people have been killed in these attacks.

    The first two tankers seized were operating on the black market and supplying oil to countries under U.S. sanctions, said Kevin Hassett, director of the White House’s National Economic Council, in an interview on CBS’s “Face the Nation.”

    “I don’t think Americans need to worry about rising prices because of these ship seizures,” Hassett said. “There are just a few ships, and they were part of the black market.”

    However, a trader told Reuters that these seizures could slightly boost oil prices when Asian markets open on Monday. UBS analyst Giovanni Staunovo explained, “Prices might increase modestly at the start of trading because the market could see this as an escalation, with more Venezuelan barrels at risk since the tanker wasn’t on a U.S. sanctions list.”

    Some analysts note that these operations increase geopolitical risks and could heighten tensions in the shadow fleet — the network of vessels moving oil from sanctioned countries like Venezuela, Russia, and Iran. Matias Togni, an oil shipping analyst at NextBarrel, suggested that these actions might also embolden Ukraine to attack Russian ships and could lead Europe to detain vessels linked to Moscow.

    Venezuelan and Iranian oil production already shows signs of slowing, Togni added, and he anticipates similar declines for Russia. With logistics becoming costlier, oil from sanctioned nations may be sold at steeper discounts, potentially limiting gains in benchmark oil prices.

  • US Sanctions Target Maduro’s Family & Close Associates

    US Sanctions Target Maduro’s Family & Close Associates

    The US has imposed new sanctions targeting family members and associates of Nicolas Maduro, as part of an increased effort to pressure the Venezuelan leader. The Treasury Department announced that it has sanctioned seven individuals connected to Maduro and his wife, accusing them of supporting Maduro’s dictatorship and his alleged narcotics operations. Treasury Secretary Scott Bessent emphasized that the administration is determined to prevent Venezuela from flooding the US with illegal drugs and warned that Maduro’s regime jeopardizes regional peace and stability.

    Maduro’s government has denied any involvement in crime and asserts that the US aims to overthrow him in order to control Venezuela’s substantial oil reserves. Over the past few months, the Trump administration has intensified its stance, expanding military presence in the Caribbean, launching maritime interdictions against suspected drug ships, seizing an oil tanker under sanctions, and declaring a “blockade” on Venezuelan oil exports. There are also ongoing threats of imminent land-based strikes.

    Among those sanctioned on Friday is Carlos Erik Malpica Flores, Maduro’s nephew, who was implicated in corruption at state oil company PDVSA. His mother, brother, wife, and daughter also received sanctions. This action follows last week’s designation of Malpica Flores himself.

    In addition, the Treasury extended a license protecting Citgo Petroleum, a Venezuela-owned refiner based in Houston, from creditor claims through February 3. This renewal is shorter than the previous six-month extension issued in June. Despite legal challenges including a court auction, the US continues to shield Citgo from creditors, pending further court approvals for a sale of its parent company’s shares to an investment firm to satisfy Venezuela’s debts. This process is part of a broader two-year effort to resolve outstanding debt and expropriations associated with Venezuela’s financial obligations.

  • America plans to seize additional tankers off Venezuela’s shores

    America plans to seize additional tankers off Venezuela’s shores

    The US is planning additional direct actions in the coming weeks, with shipowners now reevaluating whether to set sail from Venezuelan waters. According to Leavitt, the US won’t tolerate sanctioned vessels operating freely, emphasizing that they won’t stand by as vessels carrying black-market oil—funds that support illicit regimes around the world—continue to sail.

    A list of targeted ships has been compiled for potential seizure, with plans developed over months by the Justice Department and Homeland Security. The recent move involved seizing a tanker, with authorities monitoring other vessels at sea and in ports. Many of these ships are aged, have opaque ownership, and operate without comprehensive insurance, making port acceptance difficult.

    The seizure of the tanker “Skipper,” which had loaded Venezuelan crude, caused shippers to suspend three shipments totaling nearly 6 million barrels of Venezuela’s main export grade, Merey. These cargoes had just been loaded and were ready to voyage to Asia, but are now delayed as ships wait off the coast for safer passage.

    US forces had increased surveillance close to Venezuela and Guyana, monitoring vessels both at sea and docked for repairs or loading, before acting. The seized vessel is expected to be taken to a US port for cargo confiscation through legal procedures.

    Further seizures depend on how quickly ports can be prepared to receive and drain the vessels’ cargoes, many of which are old, poorly owned, and lightly insured—deterring port acceptance. The “Seahorse,” which is under UK and EU sanctions for trading with Russia, was also observed by US warships in November before heading into Venezuela.

    Venezuelan officials have condemned the seizure as “international piracy,” but legal experts say under international law, such actions are not piracy since they are sanctioned by the US government. The US’s targeted list continues to expand, aiming to tighten economic pressure on Maduro’s regime, which argues that the military buildup is intended to overthrow him and take control of the country’s oil assets.

    The US’s new approach targets the shadow fleet of tankers that transport sanctioned oil to China, often on multiple routes for Iran, Venezuela, and Russia. The “Skipper” was part of these operations, prompting some shippers to halt voyages to Asia temporarily. Now, ships are waiting offshore for the situation to stabilize.

    US authorities are actively monitoring ships near Venezuela, intervening before vessels enter international waters. Several sanctioned ships have been detained or observed in the region, with plans to seize and unload their cargoes at US ports when feasible. Many vessels involved are old, with owners who lack transparency and insurance coverage, complicating port acceptance.

    While the Venezuelan government labels these seizures as acts of piracy, legal experts affirm that they do not qualify under international law, given they are executed following US sanctions policies.

  • How to Find and Use Oil for Engine Repair in Your RV: Solving the Issue

    How to Find and Use Oil for Engine Repair in Your RV: Solving the Issue

    A functional RV is essential for safely transporting you and your team to the next destination in the physics-based survival game RV There Yet?. Nothing stops your trip faster than a broken or damaged engine.

    Whether you’ve slipped on rocky ground or been nearby a bear attack, your RV can only handle so much before the engine takes the hit. To keep your adventure going, you’ll need to learn how to fix your engine and recognize when repairs are required.

    How to Find Oil

    A bottle of Motor Oil can be found at the campsite when you start the game. You can also find motor oil at checkpoints and points of interest, but there’s no guarantee. You’ll need to decide when to use the oil you have or if it’s better to push a little further before stopping for repairs.

    Make sure your RV has enough space to store the motor oil because it’s the only way to fix a damaged engine. Keep it secured inside cupboards so it doesn’t roll around when you’re driving.

    Note: If your engine becomes completely broken, unfortunately, it’s game over for you and your crew, and you’ll have to start over.

    How to Repair Your Engine

    You’ll know when your engine needs fixing by looking at the damage bar at the top of the screen. If it turns red, your engine has taken a beating. When possible, grab some motor oil to help repair it.

    The engine is hidden beneath the bed at the back of the RV. Approaching the bed allows you to open it and see the engine underneath. With motor oil in hand, follow the prompt (on PC, use the left mouse button) to repair the engine. Once fixed, your RV is ready for the next part of your journey.

  • Indian refineries halt Russian oil imports, seek clarity—sources

    Indian refineries halt Russian oil imports, seek clarity—sources

    Indian refiners have not submitted new orders for Russian oil since sanctions were implemented, as they seek clarity from the government and suppliers. Some refiners are turning to spot markets to fulfill their crude oil needs, according to sources who requested anonymity because they aren’t authorized to speak publicly.

    Indian Oil Corporation has issued a tender for oil purchases, and Reliance Industries has increased its spot market purchases, the sources added. The European Union, the UK, and the US have imposed various sanctions on Russia over its military actions in Ukraine, including recent US sanctions targeting Russia’s leading oil producers, Lukoil and Rosneft.

    Refiners in India are expected to significantly reduce Russian oil imports to comply with the new US sanctions, which could facilitate a smoother trade relationship with the US. Last week, Reliance, India’s largest buyer of Russian oil, stated it would comply with sanctions while maintaining existing supplier relationships. Reports also indicate Reliance plans to halt imports from Rosneft.

    One source mentioned, “We haven’t ordered new cargoes yet and have canceled some booked through traders linked to sanctioned entities.” Another added, “We need to make sure our purchases aren’t connected to sanctioned parties since banks won’t process payments.” A third source said their company is waiting to see if it can source shipments from non-sanctioned traders or entities.

    In the first nine months of 2025, India imported 1.9 million barrels of Russian oil daily, accounting for about 40% of Russia’s total exports, according to the International Energy Agency. Between April and September, India’s Russian oil imports decreased by 8.4% year-over-year, driven by narrower discounts and tighter supplies, prompting refiners to source more from the Middle East and the US, based on trade data and shipping reports.

  • Chinese Oil Giants Halt Russian Oil Purchases Amid Sanctions

    Chinese Oil Giants Halt Russian Oil Purchases Amid Sanctions

    Chinese state-owned oil giants have stopped purchasing Russian crude shipped by sea following the U.S. sanctions targeting Moscow’s two largest oil firms, Rosneft and Lukoil, according to several trade sources on Thursday.

    Meanwhile, India, the biggest importer of Russian seaborne oil, is expected to significantly reduce its crude imports from Russia to align with U.S. sanctions related to Russia’s invasion of Ukraine.

    This decline in demand from Moscow’s primary customers is likely to hurt Russia’s oil revenue and compel other major importers to seek alternative sources, potentially driving up global oil prices.

    The major Chinese oil companies—PetroChina, Sinopec, CNOOC, and Zhenhua Oil—are reportedly abstaining from dealing in Russian seaborne crude for the foreseeable future due to fears of sanctions. These companies did not immediately comment.

    Although China imports about 1.4 million barrels of Russian oil daily by sea, most of this is purchased by independent refiners, including small-scale operators known as teapots. Estimates on how much state giants buy vary widely—the analytics firm Vortexa estimates their purchases at under 250,000 barrels per day in the first nine months of 2025, while Energy Aspects suggests it’s around 500,000 barrels per day.

    Unipec, Sinopec’s trading arm, halted Russian oil imports last week after the UK designated Rosneft, Lukoil, and associated shadow fleet ships and Chinese entities—such as a major Chinese refiner—as targets.

    Most Russian oil sales to China are made through intermediaries instead of direct deals, traders say. Meanwhile, independent refiners might pause their Russian purchases to evaluate the impact of sanctions but are still likely to seek ways to continue sourcing Russian crude.

    Leading up to the sanctions announcement on Wednesday, premiums for November-loaded ESPO crude dropped to about $1 per barrel over ICE Brent, down from early October levels around a $1.70 premium.

    China also imports roughly 900,000 barrels per day of Russian oil via pipeline, primarily to PetroChina, which several traders consider unlikely to be significantly impacted by the sanctions.

    India and China are expected to rely on alternative suppliers from the Middle East, Africa, and Latin America, which could lead to higher prices for non-sanctioned oil.

  • US imposes sanctions on Russian oil giants, EU bans LNG imports

    US imposes sanctions on Russian oil giants, EU bans LNG imports

    Here is the rewritten, human-like, unique, and plagiarism-free version of the content in American English:

    A display shows a signboard with the logo of Russia’s major oil company, Rosneft, at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia, on June 5, 2024. — Reuters

    • The first sanctions related to Ukraine targeting Russia during Trump’s second term.
    • Bessent urges allies to join the U.S. in imposing sanctions on Russia.
    • Trump expresses hope that these sanctions won’t be necessary for a long period.

    WASHINGTON/BRUSSELS: On Wednesday, U.S. President Donald Trump announced sanctions against Russia connected to Ukraine for the first time in his second term, specifically targeting oil giants Lukoil and Rosneft amid increasing frustration with Russian President Vladimir Putin over the ongoing conflict.

    This decision followed the European Union’s approval of its 19th set of sanctions against Moscow, which includes a ban on Russian liquefied natural gas imports. It also comes after Britain sanctioned Rosneft and Lukoil last week.

    The U.S. Treasury Department indicated readiness to take additional measures and called on Moscow to agree immediately to a ceasefire in Ukraine, which has been ongoing since February 2022.

    “Due to President Putin’s refusal to end this pointless war, the Treasury Department is sanctioning Russia’s two largest oil companies that fund the Kremlin’s military efforts,” Treasury Secretary Scott Bessent stated. “We encourage our allies to join us and enforce these sanctions.”

    Following these measures, oil prices surged over $2 per barrel, with Brent crude futures rising after settlement to approximately $64.

    These sanctions mark a significant shift in U.S. policy, as President Trump had previously avoided sanctioning Russia over its war, relying instead on trade measures. Earlier this year, Trump imposed a 25% tariff on Indian goods in response to their purchase of discounted Russian oil.

    The U.S. has not placed tariffs on China, another key importer of Russian oil. A price cap of $60 on Russian oil, introduced by Western countries after Russia’s invasion, has shifted Russia’s primary markets from Europe to Asia.

    In a brief statement from the Oval Office, Trump said he canceled a planned summit with Putin in Hungary because it didn’t seem like the right moment.

    He also mentioned hope that the sanctions on Russian oil companies won’t need to stay in place for an extended period. Last year, Trump expressed a preference for swiftly removing sanctions to prevent risks to the dollar’s dominance in global trade. Russia has often requested to be paid for oil in other currencies.

    “It Can’t Be a One-Time Deal”

    Experts view these actions as a crucial and long-overdue step.

    “This cannot be just a one-and-done,” stated Edward Fishman, a former U.S. official now serving as a senior research scholar at Columbia University. He emphasized the importance of whether the U.S. will now threaten sanctions against anyone doing business with Rosneft and Lukoil.

    Jeremy Paner, a former sanctions investigator at the Treasury Department and currently a partner at Hughes Hubbard & Reed law firm, pointed out that the lack of involvement from banks or Indian and Chinese oil buyers in Wednesday’s sanctions means they might not significantly impact Putin.

    However, a senior Ukrainian official welcomed the move, calling it “excellent news,” and noted that Kyiv had previously proposed targeting these two Russian energy firms with sanctions.

    The Treasury also targeted several subsidiaries of Rosneft and Lukoil. These measures block U.S. assets owned by those companies and prevent Americans from engaging in business with them.

    The Russian embassy in Washington and Russia’s mission at the United Nations in New York have yet to comment on these sanctions.

    EU’s New Measures Target Russia’s Shadow Fleet

    The European Union’s ban on Russian LNG will be implemented in two phases: short-term contracts will be phased out after six months, and long-term contracts will end by January 1, 2027. This timeline arrives a year earlier than the EU’s original plan to reduce dependence on Russian fossil fuels.

    The latest EU package also introduces new travel restrictions on Russian diplomats and adds 117 vessels, mostly tankers, to its list of Moscow’s shadow fleet, bringing the total to 558. It also includes banks from Kazakhstan and Belarus.

    Sources from the EU have indicated that four entities connected to China’s oil industry will be included in the sanctions list, though official names won’t be revealed until the formal approval process on Thursday. These include two refineries, a trading firm, and an organization involved in circumventing sanctions.

    This version maintains the core facts and details while offering a more natural, engaging tone, tailored for an American English-speaking audience.