"President Donald Trump said Wednesday that the United States has seized an oil tanker off the coast of Venezuela as tensions mount with the government of President Nicolas Maduro. Using U.S. forces to seize an oil tanker is incredibly unusual and marks the Trump administration's latest push to increase pressure on Maduro, who has been charged with narcoterrorism in the United States."
"We've just seized a tanker on the coast of Venezuela, a large tanker, very large, largest one ever seized, actually, Trump told reporters at the White House, later adding that it was seized for a very good reason. Trump said other things are happening, but did not offer additional details, saying he would speak more about it later."
"Venezuela has the world's largest proven oil reserves and produces about 1 million barrels a day. Locked out of global oil markets by U.S. sanctions, the state-owned oil company sells most of its output at a steep discount to refiners in China. The transactions usually involve a complex network of shadowy intermediaries, as sanctions have scared away more established traders."
U.S. forces seized a large oil tanker off Venezuela's coast, an unusually bold action intended to increase pressure on President Nicolas Maduro, who faces narcoterrorism charges in the United States. The operation was led by the U.S. Coast Guard with Navy support and was carried out under U.S. law enforcement authority. The United States has built its largest regional military presence in decades and carried out deadly strikes on alleged drug-smuggling boats. The campaign faces rising scrutiny from Congress. Venezuela holds the world's largest proven oil reserves, produces about one million barrels per day, and sells discounted oil through opaque intermediaries and ghost tankers.
Read at www.eastbaytimes.com
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