Venezuela Vows to Continue Oil Exports Despite U.S. Naval Blockade on Sanctioned Tankers

On Wednesday, Venezuela responded sharply to the United States, affirming that it was not affected by U.S. President Donald Trump's announcement of a blockade on "sanctioned oil tankers" heading to and from Venezuela.

Meanwhile, United Nations Secretary-General António Guterres called to avoid any further escalation, while China declared its support for Venezuela and rejected "coercive policies."

Trump's announcement on Tuesday marked a new level of escalation in his ongoing political, military, and economic campaign against Venezuelan President Nicolás Maduro.

Read also: Trump announces U.S. seizure of oil tanker off Venezuelan coast

Caracas, which holds the world's largest proven oil reserves, confirmed that export operations are proceeding normally.

The national oil company, Petróleos de Venezuela, stated that "crude oil and derivatives export operations are proceeding normally, and oil tankers continue to sail with complete safety."

Trump had declared on Tuesday the imposition of a "full and comprehensive blockade on all sanctioned oil tankers entering and leaving Venezuela."

He also warned, adding that "Venezuela is completely surrounded by the largest fleet ever assembled in South American history," referring to the massive U.S. military buildup in the Caribbean, including the world's largest aircraft carrier.

On Wednesday, Trump reiterated his position, stating that U.S. forces "will not allow anyone to pass unless authorized," accusing Venezuela of "taking all our oil."

In the markets, oil prices rose in early trading in London on Wednesday following news of the blockade, which came days after the U.S. Navy seized a sanctioned oil tanker near Venezuelan shores.

Venezuela's struggling economy heavily depends on oil exports.

In turn, the Venezuelan military escalated its rhetoric. Defense Minister Vladimir Padrino López, at an event attended by senior commanders loyal to Maduro, said, "We tell the U.S. government and its president that we do not fear their rude and arrogant threats." He affirmed, "There will be no compromise on the dignity of this homeland nor submission to anyone."

"Avoid further escalation"

Last August, Trump ordered the largest military deployment in the Caribbean since the 1989 Panama invasion, justifying it as a fight against drug trafficking to the United States.

Caracas asserts that these operations are merely a cover for attempting to overthrow Maduro and seize control of the country's oil.

Trump has sent mixed signals regarding a possible military intervention in Venezuela but insists that Maduro's days are numbered.

Amid the tension, Guterres emphasized the need for "restraint and immediate de-escalation," warning against sliding into greater escalation.

Maduro also held a call with Guterres, warning of "serious consequences for regional peace" due to Trump's campaign against him.

Meanwhile, Mexican President Claudia Sheinbaum urged the United Nations to play a role "to prevent bloodshed" in Venezuela.

"We oppose coercion"

China's Foreign Minister, representing the largest importer of Venezuelan oil, expressed his country's solidarity with Caracas during a phone call with his Venezuelan counterpart.

Wang Yi said, "China opposes any form of coercion and supports the right of all countries to defend their sovereignty and national dignity. Venezuela has the right to establish cooperative relations that achieve mutual benefit with other countries independently," according to a statement from the Chinese Foreign Ministry.

Iran also condemned the "threatening U.S. statements and actions" against its ally, describing them as "a policy based on systematic force and coercion."

The Iranian Foreign Ministry stated that "attacks, seizures, or obstruction of commercial ships heading to and from Venezuela represent a clear example of piracy and armed robbery at sea."

"Cutting a lifeline"

The seizure last week of a tanker carrying between one and two million barrels of oil en route to Cuba marked a significant turning point in Trump's campaign against Maduro.

The U.S. blockade is expected to worsen Venezuela's severe economic crisis.

Since 2019, the country has been subject to a U.S. oil embargo that forced it to sell its production on the black market at low prices, especially to several Asian countries.

Venezuela currently produces about one million barrels per day, down from nearly three million barrels at the beginning of the first decade of the 21st century.