Washington (TDI): The United States has intensified pressure on Venezuela by issuing fresh sanctions on Thursday. These measures also target three nephews of President Nicolas Maduro’s wife, along with six crude oil tankers and associated shipping companies. This action coincides with a significant US military buildup in the southern Caribbean and President Donald Trump’s campaign to remove Maduro.
The US Treasury Department announced sanctions on six shipping companies and six crude oil tankers for moving Venezuelan oil.
Asserting they “have engaged in deceptive and unsafe shipping practices and continue to provide financial resources that fuel Maduro’s corrupt narco-terrorist regime.” Four of the vessels, including the H. Constance and the Lattafa, are Panama-flagged, with the other two flagged by the Cook Islands and Hong Kong. These supertankers had recently loaded crude in Venezuela, according to internal PDVSA (Petroleos de Venezuela S.A.) documents.
The sanctioned nephews of Venezuelan first lady Cilia Flores include Franqui Flores and Efrain Antonio Campo Flores, known as the narco-nephews after being convicted in 2016 for attempting a multi-million dollar cocaine deal. They were released in a 2022 prison swap. The third sanctioned nephew is Carlos Erik, who, according to the US, was involved in corruption at the state oil company.
Maduro and his administration denied criminal links, claiming the US seeks regime change to seize Venezuela’s vast oil reserves.
Maduro stated, “The imperialists thought that our people would falter, but here no one faltered and no one will ever falter,” referencing previous sanctions.
Experts view the sanctions as a powerful intimidation tactic. David Goldwyn, a former US energy diplomat, suggested the curbs could pave the way for the US to seize the vessels, making sanctioned owners hesitant to lift Venezuelan crude.
Francisco Monaldi noted that the impact hinges on US enforcement but raises the risks for ships departing Venezuelan waters, especially the shadow fleet of older, opaquely owned and uninsured vessels that carry sanctioned oil.
This move follows the first seizure of a Venezuelan oil cargo since the US sanctions were imposed in 2019, which occurred on Wednesday. Attorney General Pam Bondi confirmed the FBI, Homeland Security and Coast Guard, executed a seizure warrant for a tanker transporting sanctioned oil from Venezuela and Iran.
This action sent oil prices higher and sharply escalated tensions between Washington and Caracas, with the Trump administration reportedly planning more tanker seizures. Till not the US has conducted over 20 strikes against suspected drug vessels in the region.
Tayyaba Arif is a student of International Relations, and takes keen interest in conflict reporting and the dynamics of regional and global affairs. She is especially committed to SDG 17, and believes in effective partnerships and promoting cooperative initiatives. She can be reached at tayyabarrif0@gmail.com
