Trump is posting on his social media account.
Verbatim:
Venezuela is completely surrounded by the largest Armada ever assembled in the History of South America. It will only get bigger, and the shock to them will be like nothing they have ever seen before — Until such time as they return to the United States of America all of the Oil, Land, and other Assets that they previously stole from us. The illegitimate Maduro Regime is using Oil from these stolen Oil Fields to finance themselves, Drug Terrorism, Human Trafficking, Murder, and Kidnapping. For the theft of our Assets, and many other reasons, including Terrorism, Drug Smuggling, and Human Trafficking, the Venezuelan Regime has been designated a FOREIGN TERRORIST ORGANIZATION. Therefore, today, I am ordering A TOTAL AND COMPLETE BLOCKADE OF ALL SANCTIONED OIL TANKERS going into, and out of, Venezuela. The Illegal Aliens and Criminals that the Maduro Regime has sent into the United States during the weak and inept Biden Administration, are being returned to Venezuela at a rapid pace. America will not allow Criminals, Terrorists, or other Countries, to rob, threaten, or harm our Nation and, likewise, will not allow a Hostile Regime to take our Oil, Land, or any other Assets, all of which must be returned to the United States, IMMEDIATELY. Thank you for your attention to this matter!
—
The background to this is that in recent weeks, the Trump administration has sharply escalated its pressure campaign on Venezuela, combining military, economic and legal measures in an effort to weaken President Nicolás Maduro’s government.
One of the most significant moves came on December 10, when U.S. forces seized a large Venezuelan oil tanker, the Skipper, off the country’s coast, marking the first such interception under existing sanctions and intensifying tensions with Caracas, which denounced the action as “piracy” and theft. The seizure forms part of a broader U.S. strategy to enforce sanctions more assertively and disrupt Venezuela’s oil exports, which remain central to its economy. U.S. authorities are reportedly preparing to intercept additional tankers linked to illicit trade.
At the same time, the U.S. has imposed new sanctions on associates of the Maduro regime, including family members and tankers tied to sanctioned networks, adding legal and financial pressure.
Militarily, U.S. forces have conducted multiple strikes against vessels alleged to be involved in drug trafficking, part of an expanded Caribbean presence tied to broader counter-narcotics operations that have killed scores of suspected traffickers and drawn scrutiny about legal authority and regional stability.
Separately, the administration is moving to terminate the legal status of many Venezuelan immigrants in the United States, reflecting pressure on migration as part of its broader policy framework. Reuters
Overall, Trump’s approach combines sanctions enforcement, naval action and immigration policy to escalate pressure on Venezuela while raising diplomatic and legal controversy.
—
The the extent that this further (or at all) limits oil supply from Venezuela it’s a tailwind for oil at the margin
