The United States Coast Guard is actively pursuing an oil tanker in international waters near Venezuela, according to officials. This operation marks the third such interception attempt in less than two weeks, highlighting escalating tensions between the two nations.
“The United States Guard is in active pursuit of a sanctioned dark fleet vessel that is part of Venezuela’s illegal sanctions evasion,” a US official informed Reuters. The vessel is reportedly “flying a false flag and under a judicial seizure order.”
While the tanker is under sanctions, it has not yet been boarded. Officials indicate that interceptions could take various forms, such as sailing or flying close to vessels of concern. The operation’s specific location and the name of the vessel remain undisclosed, as officials spoke on the condition of anonymity to both Reuters and the Associated Press.
US Strategy and Regional Impact
The White House has not provided an immediate response to requests for comment. However, this pursuit aligns with President Donald Trump’s recent announcement of a “blockade” targeting all sanctioned oil tankers entering and leaving Venezuela. This strategy is part of a broader pressure campaign against Venezuelan President Nicolas Maduro, which includes an increased military presence in the region and over two dozen military strikes on vessels in the Pacific Ocean and Caribbean Sea.
The first two oil tankers seized were reportedly operating on the black market, supplying oil to countries under sanctions. Kevin Hassett, director of the White House’s National Economic Council, assured CBS News viewers that these actions would not significantly impact US oil prices. “There’s just a couple of them, and they were black market ships,” Hassett stated.
Market Reactions and Expert Opinions
Despite official reassurances, some market analysts predict a slight increase in oil prices when Asian markets open. “We might see prices increasing modestly at the opening, considering market participants could see this as an escalation with more Venezuelan barrels at risk,” UBS analyst Giovanni Staunovo commented.
Furthermore, the seizures may elevate geopolitical risks and intensify tensions within the shadow fleet of vessels transporting oil from sanctioned countries such as Venezuela, Russia, and Iran. Matias Togni, an oil shipping analyst at NextBarrel, suggested that these actions could encourage Ukraine to continue targeting Russian vessels and potentially prompt Europe to detain Moscow-linked dark fleet vessels.
Venezuelan and Iranian oil output is already showing signs of slowing, and similar trends are expected for Russia, according to Togni.
Broader Implications and Future Outlook
The ongoing interceptions could lead to higher logistical costs, resulting in steeper discounts for oil from sanctioned countries. This may help cap gains in benchmark oil prices, Togni noted. Meanwhile, the geopolitical landscape remains fraught with potential for further conflict and economic repercussions.
The situation underscores the complex interplay between international diplomacy, economic sanctions, and global oil markets. As the US continues its assertive stance against Venezuela and other sanctioned nations, the implications for global energy supply and geopolitical stability remain significant.
As developments unfold, the international community will be closely monitoring the actions of both the US and Venezuela, with potential consequences for global oil markets and diplomatic relations.
