The $8 Billion Black Market for Venezuelan Oil Is Suddenly Closing Down
NegativeWorld Affairs

- The U.S. military has intensified its campaign against Venezuelan oil exports by targeting sanctioned vessels, leading to the closure of an $8 billion black market for Venezuelan oil. Approximately 70% of the country's oil exports depend on these vessels, which are now under increased scrutiny following recent military actions.
- This development is critical for Venezuela, as the seizure of oil tankers and the blockade of sanctioned vessels threaten the already struggling economy, which relies heavily on oil revenues. The actions taken by the U.S. military are part of a broader strategy to pressure the Venezuelan government led by Nicolás Maduro.
- The situation reflects ongoing tensions between the U.S. and Venezuela, with the U.S. implementing stricter sanctions and military actions aimed at curtailing oil exports. This escalation raises questions about international law and the legality of such seizures, while also highlighting the challenges faced by the Maduro regime in maintaining its oil production amidst external pressures.
— via World Pulse Now AI Editorial System



