Maritime tracking data released on Monday showed that international oil tankers have dramatically scaled back loading activity at Venezuelan ports, fearful of a crackdown by the Trump administration on illegal sanctions-busting oil shipments.
The U.S. military has seized two oil tankers in the week since President Donald Trump announced a “blockade” on shipments of sanctioned oil from Venezuela, approached a third, and is currently shadowing a fourth.
These actions were evidently enough to make ship owners more nervous about taking on cargoes of Venezuelan oil. Reuters reported on Monday that Venezuela’s national oil company, PDVSA, has only…
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