Oil and Energy Markets

President Trump has declared Venezuela’s government a Foreign Terrorist Organization and ordered a “total and complete” blockade of sanctioned oil tankers, vowing “We’re gonna keep” roughly 3.7 million barrels seized as U.S. Coast Guard and Navy teams have interdicted at least two tankers (Skipper and Centuries) and are pursuing a third (Bella 1). The campaign—targeting a shadow “dark fleet” blamed for sanctions evasion and tied by the administration to narco‑terror networks—has provoked international condemnation and legal warnings at home over its legality and risks of escalation, even as analysts warn it will further squeeze Venezuela’s oil‑dependent economy and deepen humanitarian strains.