The recent seizure of an oil tanker by U.S. authorities has intensified tensions with Venezuela. This action marks a significant escalation in the ongoing conflict between Washington and Caracas. The tanker, named Skipper, was intercepted off the coast of Venezuela on a mission connected to the country’s crude oil exports.
Details of the Seizure
The Skipper had just left the José oil port in Venezuela. It was carrying approximately 1.8 million barrels of Merey heavy crude oil. This tanker had previously engaged in transporting oil to various countries, including China, Iran, and Syria.
Historic Interdiction
- Date of seizure: December 6, 2023.
- Transfer of oil: 200,000 barrels delivered to the Neptune 6 before interception.
- Venezuela’s oil exports: More than 900,000 barrels per day in November 2023.
With U.S. sanctions imposed since 2019, this was the first time an oil cargo from Venezuela was confiscated. It highlights a stronger U.S. stance towards Venezuelan president Nicolás Maduro, who has criticized the move as “an act of international piracy.”
U.S. Strategy Against Venezuela
The U.S. is reportedly preparing to increase its interventions against ships transporting Venezuelan oil. There is an active list identifying additional sanctioned vessels at risk of seizure. Federal agencies have been working on this strategy for months, showing a clear commitment to disrupt Venezuela’s oil trade.
The Dark Fleet
- The term “dark fleet” refers to tankers that transport sanctioned oil.
- These tankers often disable their tracking signals and operate under false names.
- As per Lloyd’s List Intelligence, there are 1,423 tankers in this shadow fleet, with 921 under U.S. sanctions.
These vessels typically transport oil from Venezuela, Iran, and Russia, primarily to Asian markets. The operations of these tankers continue despite heightened scrutiny, illustrating the complexities of the global oil trade influenced by geopolitical tensions.
Market Impact
The seizure has led to a rise in global oil prices as the market reacts to the escalating U.S. actions against Venezuelan oil exports. Venezuelan crude has faced significant price discounts due to competition from oil sanctioned by the U.S., especially from Russia and Iran.
This latest move underscores a new phase in U.S. policy towards Venezuela, aiming to exert maximum pressure on the Maduro government while navigating the intricate dynamics of global oil supply. As the situation develops, further actions from the U.S. are anticipated in the coming weeks.
