The United States has made a bold move to assert its dominance over Venezuela's vast oil reserves, seizing two tankers in the North Atlantic and Caribbean Sea that were allegedly involved in smuggling oil for a company linked to a Lebanese militant group backed by Iran.
In a daring operation, U.S. forces took control of the Bella 1 tanker, which was renamed Marinera after it was seized last month, and the M Sophia tanker. The Bella 1 had been evading a U.S.-imposed blockade on sanctioned oil vessels around Venezuela since December, while the M Sophia had not transmitted its location data since July.
The seizures are part of a broader effort by President Donald Trump's administration to exert control over Venezuela's oil production and distribution, which has become one of the largest proven reserves of crude oil in the world. The U.S. plans to oversee the sale of Venezuela's petroleum worldwide, with the Energy Department announcing plans to relax some sanctions so that the country can sell its oil products globally.
The move is seen as a significant escalation in the Trump administration's efforts to "run" Venezuela, following the ouster of President Nicolás Maduro. The U.S. government has indicated it will invest in Venezuela's electricity grid and increase production, which has been roughly 1 million barrels a day.
However, critics argue that the U.S. is engaging in "blatant piracy," with some senior Russian lawmakers condemning the actions as an attempt to humiliate Russia. The Russian Foreign Ministry has demanded that the U.S. ensure humane treatment of Russian nationals among the crew and return them to their homeland.
The move also raises concerns about the potential for price manipulation, given the U.S.'s significant stakes in the global oil market. As one senior U.S. official noted, "Taking control of the distribution of Venezuela's oil products globally could give us a tight hold on oil supplies...and enable us to influence prices."
With the seizures and plans to relax sanctions, the Trump administration is seeking to consolidate its control over the world's largest proven reserves of crude oil. But critics warn that this move could have far-reaching consequences for global stability and the rule of law.
In a daring operation, U.S. forces took control of the Bella 1 tanker, which was renamed Marinera after it was seized last month, and the M Sophia tanker. The Bella 1 had been evading a U.S.-imposed blockade on sanctioned oil vessels around Venezuela since December, while the M Sophia had not transmitted its location data since July.
The seizures are part of a broader effort by President Donald Trump's administration to exert control over Venezuela's oil production and distribution, which has become one of the largest proven reserves of crude oil in the world. The U.S. plans to oversee the sale of Venezuela's petroleum worldwide, with the Energy Department announcing plans to relax some sanctions so that the country can sell its oil products globally.
The move is seen as a significant escalation in the Trump administration's efforts to "run" Venezuela, following the ouster of President Nicolás Maduro. The U.S. government has indicated it will invest in Venezuela's electricity grid and increase production, which has been roughly 1 million barrels a day.
However, critics argue that the U.S. is engaging in "blatant piracy," with some senior Russian lawmakers condemning the actions as an attempt to humiliate Russia. The Russian Foreign Ministry has demanded that the U.S. ensure humane treatment of Russian nationals among the crew and return them to their homeland.
The move also raises concerns about the potential for price manipulation, given the U.S.'s significant stakes in the global oil market. As one senior U.S. official noted, "Taking control of the distribution of Venezuela's oil products globally could give us a tight hold on oil supplies...and enable us to influence prices."
With the seizures and plans to relax sanctions, the Trump administration is seeking to consolidate its control over the world's largest proven reserves of crude oil. But critics warn that this move could have far-reaching consequences for global stability and the rule of law.