Venezuela Confirms Continuation of Oil Exports Despite US "Blockade"
Venezuela confirms continued oil exports despite the US blockade and raises tone of defiance.
SUMMARY
Venezuela confirms that its oil exports have not been affected by the US blockade imposed by Trump on sanctioned oil tankers, amid international calls to avoid escalation and rising military and economic tensions in the region.
KEY HIGHLIGHTS
- Venezuela confirms continued oil exports despite the US blockade.
- UN Secretary-General calls to avoid escalation.
- China expresses solidarity with Venezuela and rejects bullying policies.
- Trump announces comprehensive blockade on sanctioned oil tankers.
- Venezuelan Defense Minister affirms no fear of US threats.
CORE SUBJECT
Venezuelan oil exports and US blockade
On Wednesday, Venezuela raised the tone of defiance against the United States, affirming that its crude oil exports were not affected by President Donald Trump's announcement of a blockade on "sanctioned oil tankers" sailing to and from the country.
At the same time, United Nations Secretary-General António Guterres called to avoid further escalation, while China expressed solidarity with Venezuela and rejected "bullying policies."
Trump's announcement on Tuesday marked a new escalation in his months-long campaign of military and economic pressure on Venezuelan President Nicolás Maduro.
Venezuela, which holds the world's largest proven oil reserves, confirmed that oil export operations are proceeding as usual.
The national oil company, Petróleos de Venezuela, announced that "crude oil and derivatives export operations are proceeding normally. Oil tankers continue to sail with complete safety."
Trump declared on Tuesday the "imposition of a full and comprehensive blockade on all sanctioned oil tankers entering and leaving Venezuela."
He warned, saying that "Venezuela is completely surrounded by the largest fleet ever assembled in the history of South America," referring to the heavy US military presence in the Caribbean region, including the world's largest aircraft carrier.
On Wednesday, Trump reiterated that US forces "will not allow anyone to pass if they are not permitted to do so" and accused Venezuela of "taking all our oil."
Meanwhile, oil prices rose in early trading on Wednesday in London following news of the blockade, which came a week after US forces seized a sanctioned oil tanker near the Venezuelan coast.
Venezuela's struggling economy heavily depends on oil exports.
However, the military supporting leftist leader Maduro also raised its tone.
Defense Minister Vladimir Padrino López said during an event attended by senior commanders who pledged loyalty to the president, "We tell the US government and its president that we do not fear their rude and arrogant threats."
The minister added, "There will be no compromise on the dignity of this homeland and no submission to anyone."
KEYWORDS
MENTIONED ENTITIES 6
Donald Trump
👤 Person_MalePresident of the United States of America
António Guterres
👤 Person_MaleUnited Nations Secretary-General
China
📍 Location_CountryCountry expressing solidarity with Venezuela
Nicolás Maduro
👤 Person_MalePresident of Venezuela
Petróleos de Venezuela
🏛️ OrganizationVenezuelan national oil company
Vladimir Padrino López
👤 Person_MaleVenezuelan Defense Minister
NOTABLE QUOTES 2
"We tell the US government and its president that we do not fear their rude and arrogant threats."
Context: Statement by the Venezuelan Defense Minister during an event attended by senior commanders
"There will be no compromise on the dignity of this homeland and no submission to anyone."
Context: Statement by the Venezuelan Defense Minister during an event attended by senior commanders
KEY DECISIONS 1
Imposition of a full and comprehensive blockade on all sanctioned oil tankers entering and leaving Venezuela.
FACTUAL CLAIMS 2
Crude oil exports were not affected by the announcement of the US blockade.
Crude oil and derivatives export operations are proceeding normally.