The United States recently imposed new sanctions against three of Venezuelan President Nicolás Maduro’s nephews. This decision greatly heightens their attempts to destroy the Venezuelan oil industry. The announcement comes as Maduro’s regime has lodged a formal complaint with the International Maritime Organization. They are protesting last month’s seizure of an oil tanker off Venezuela’s coast. This move, announced with great fanfare in November 2022, highlights the continued tensions between the US and Venezuela, especially regarding the latter’s key oil industry.
Earlier this month the US sanctioned six shipping companies for their role in moving Venezuelan oil. Among those targeted is a prominent Panamanian businessman, a move that illustrates Washington’s larger play to cripple any remnant of Venezuela’s oil revenues. Attorney General Pam Bondi of Florida said law enforcement authorities seized the oil tanker. They had refused to sanction it for years due to its connections with both Venezuela and Iran.
Maduro even condemned the tanker seizure. He described it as “a second era of criminal naval piracy in the Caribbean.” This statement further underlines the Venezuelan government’s increasing exasperation with the role of the US. They perceive these actions to be violations under international law of the sea.
Maduro’s nephews, who were just sentenced to 18 years in US federal prison for importing cocaine into the US, had previously been convicted of drug trafficking in US courts. They were just freed in a long-awaited prisoner swap. Their involvement in this latest round of sanctions illustrates the ongoing scrutiny surrounding Maduro’s inner circle and their alleged illicit activities.
The United States uses these tools to address the Maduro regime’s destabilizing influence. The regime’s oil exports are a prominent focus of this effort, since they are the lifeblood of Venezuela’s economy. By targeting individuals and entities within Maduro’s orbit, the US aims to disrupt the flow of oil and diminish the government’s financial resources.
