President Donald Trump escalated his pressure campaign against Nicolás Maduro on Thursday, ordering a “total and complete blockade” of all sanctioned oil tankers entering or leaving Venezuela. In a dramatic statement posted to social media, Trump accused the Venezuelan government of “drug terrorism,” “human trafficking,” and the theft of U.S. assets, while declaring the Maduro regime a foreign terrorist organization. The directive follows the U.S. seizure of a Venezuelan-linked tanker in the Caribbean earlier this month—an operation Trump described as “the largest one ever seized.”
The move marks a significant shift in Washington’s strategy. Rather than solely pressuring Maduro to step down, the administration is now targeting the legal and structural foundations of Venezuela’s oil sector, including its historic 1943 Hydrocarbons Law, which enshrined national control over oil resources.
In a reaction to U.S. President Trump's social media statement, Eurasia Group's Greg Brew concluded that Trump is now effectively calling for Venezuela to rescind the 1943 Hydrocarbons Law.
Analysts say Trump’s escalation comes at a moment of relatively low global oil prices, reducing the risk of market disruption and giving the White House confidence that tightening enforcement will not spark an energy shock. Venezuela’s production has already fallen to a seven-month low amid tanker seizures and sanctions targeting shipping firms assisting PDVSA’s exports.
China—Venezuela’s largest oil customer—has sharply increased crude stockpiles this fall, a move analysts see as a buffer against U.S. enforcement actions. Beijing condemned Washington’s tanker seizure as “international piracy” and warned that U.S. military activity near Venezuela threatens both regional stability and China’s long-standing investments there.
While avoiding direct involvement in the incident, China remains deeply exposed: roughly 80% of Venezuela’s exports ultimately feed Chinese refiners through sanction-evading routes. Beijing is expected to continue offering economic and diplomatic backing to Caracas while keeping its distance from any military confrontation.
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