The United States on Wednesday imposed sanctions on four companies it said were operating in Venezuela’s oil sector as well as associated oil tankers, as President Donald Trump’s administration increases pressure on Venezuelan President Nicolas Maduro.
The U.S. Treasury Department in a statement said it imposed sanctions on oil traders engaged in sanctions evasion for Maduro’s government. Among the targets were four vessels, some of which the Treasury accused of being part of the so-called “shadow fleet”.
“Today’s action further signals that those involved in the Venezuelan oil trade continue to face significant sanctions risks,” the Treasury said in the statement.
The sanctions mark the latest action in Trump’s pressure campaign on Maduro, which has included a ramped-up military presence in the region and more than two dozen military strikes on vessels allegedly trafficking drugs in the Pacific Ocean and Caribbean Sea near the South American nation.
This month, Trump announced a blockade of all sanctioned vessels going in or out of Venezuelan waters as part of a strategy to pressure Maduro. The U.S. move has cut oil exports this month to about half of their November level.
(Reporting by Daphne Psaledakis and Christian Martinez; Editng by Doina Chiacu and Diane Craft)