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The United States Department of the Treasury on Wednesday (local time) imposed sanctions on four companies operating in Venezuela's oil sector and identified four oil tankers as blocked property, according to an official release.
The move is part of President Donald Trump's renewed efforts to increase pressure on the Venezuelan President Nicolas Maduro. The sanctions announced on Wednesday are aimed at four companies and their linked oil tankers, which are accused of being involved in the transport of Venezuelan oil. "President Trump has been clear: We will not allow the illegitimate Maduro regime to profit from exporting oil while it floods the United States with deadly drugs," Secretary of the Treasury Scott Bessent said in a release. "The Treasury Department will continue to implement President Trump's campaign of pressure on Maduro's regime," the release read. Trump has alleged that Venezuelan President Nicolas Maduro heads what he describes as a "narco-terrorist" regime aimed at destabilising the United States, a claim that was reiterated in the latest sanctions announcement. As per the official notice, these vessels, some of which are part of the shadow fleet serving Venezuela, continue to provide financial resources that fuel Maduro's illegitimate narco-terrorist regime. "Maduro's regime increasingly depends on a shadow fleet of worldwide vessels to facilitate sanctionable activity, including sanctions evasion, and to generate revenue for its destabilising operations. Today's action further signals that those involved in the Venezuelan oil trade continue to face significant sanctions risks," the release read. Recently, President Donald Trump said that it would be a "smart" move for Venezuelan President Nicolas Maduro to relinquish power, as the United States continues to ramp up military and economic pressure on the South American nation. Responding to questions about whether his administration's current strategy is designed to force Maduro from office, Trump remained noncommittal about the specific endgame but was clear about his advice to the Venezuelan leader. "Well, I think it probably would," Trump said when asked if the goal was to force Maduro out."Can't tell. That's up to him what he wants to do. I think it would be smart for him to do that. Again, we're going to find out." "Look, Venezuela did terrible things to the United States," Trump said. "Hundreds of thousands of people, millions of people, into our open border. They sent their criminals, they sent their prisoners, they sent their drug dealers, they sent their mentally insane and incompetent people into our country, more than any other country," he added. (ANI)
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