US slaps sanctions on 4 Venezuela oil companies

The United States announced sanctions on four companies Wednesday over their operations in Venezuela's oil sector, in the latest effort to put pressure on the nation's President Nicolas Maduro.

The US Treasury Department also identified four related oil tankers as blocked property.

"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," the Treasury Department charged in a notice.

It warned that parties involved in the Venezuelan oil trade will continue facing "significant sanctions risks."

"The Treasury Department will continue to implement President (Donald) Trump's campaign of pressure on Maduro's regime," Treasury Secretary Scott Bessent said in a statement.

The United States imposed sanctions on four Venezuelan oil sector companies and four tankers, escalating pressure on President Nicolás Maduro's regime amid accusations of narco-trafficking and sanctions evasion

Treasury's OFAC designated:

The move follows U.S. seizure of tanker "Skipper" (2M barrel capacity, ~$78M oil) off Venezuela—first since 2019 sanctions on PDVSA—en route to US port under DOJ warrant.​

For one, the blocked assets would freeze US dealings and the sanctioned firms can't trade with Americans.

Maduro has decried "piracy," and vows oil defence, while the Trump administration eyes more seizures to choke Maduro's oil revenue (~90% exports), labelled "narco-terrorist."

Venezuela has denied US charges, blames regime change plot, as per the BBC.​

On Tuesday, Washington unveiled sanctions targeting Iran's drone trade with Venezuela.

It blacklisted 10 individuals and entities based in Venezuela and Iran over purchases of Iranian-designed drones, efforts to procure chemicals used for ballistic missiles, and other concerns.

The Trump administration has been ramping up pressure on Maduro, who denies US accusations that he runs a drug cartel.

Caracas contends that Washington is seeking to overthrow Maduro to seize Venezuela's oil reserves.

Trump has declared a blockade of sanctioned oil vessels sailing to and from the South American country.

In addition to a massive US naval deployment in the Caribbean, US forces have launched at least 30 strikes on boats alleged to be carrying drugs, killing over 100 people.