Venezuela’s oil shipments have plunged following the United States’ seizure of a tanker earlier this week.
The drop comes as new U.S. sanctions target shipping companies and vessels trading with the Latin American nation, according to maritime sources, shipping data and official documents.
Since the seizure on Wednesday, only tankers chartered by U.S. oil major Chevron have been able to leave Venezuelan waters carrying crude, the data showed. Chevron operates under U.S. government authorisation through joint ventures, allowing it to continue exports to the United States.
Around 11 million barrels of oil and fuel remain stranded on other tankers in Venezuelan ports, according to the sources and data. Several of these vessels are already sanctioned under U.S. measures targeting shipments linked to Iran or Russia and could face additional penalties, officials said.
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An agreement between Iran and the U.S. to reopen the Strait of Hormuz is expected "soon," a U.S. official has said. The deal would result in the resumption of commercial shipping through the sea passage and the lifting of an American naval blockade on Iranian ports.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 8th of August, covering the latest developments.
A deal on a new route for vessels through the Strait of Hormuz is "very close," Iranian Foreign Minister Abbas Araghchi has said, while warning that the reopening of the waterway depends on the U.S. meeting other conditions, including paying compensation to Iran.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 9th of August, covering the latest developments.
Typhoon Dolphin lashed Japan’s southern Okinawa prefecture on Saturday, injuring six people, disrupting flights and leaving more than 50,000 buildings without power, as China shut ports and suspended transport services ahead of the storm’s expected arrival on its east coast.
Israeli Prime Minister Benjamin Netanyahu has said Israeli forces will not withdraw from Gaza until Hamas is fully disarmed, rejecting key elements of U.S. President Donald Trump’s latest plan for the territory.
Global food commodity prices rose in July to their highest level since January 2023, driven by higher cereal, sugar and vegetable oil prices, according to the UN Food and Agriculture Organization (FAO).
Ukrainian President Volodymyr Zelenskyy said Ukraine is increasingly penetrating Russia's air-defence network, as both sides stepped up overnight strikes on energy, logistics and port infrastructure.
Türkiye has started restricting commercial ship traffic into the Black Sea due to the government's increasing concern about a surge in Russian and Ukrainian attacks on ships, Bloomberg News has reported, citing unnamed sources.
Taiwan’s cabinet is set to propose a 16 per cent annual increase in defence spending for 2027, taking the total above T$1 trillion ($31 billion) for the first time, according to the official Central News Agency.
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