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US forces in the Caribbean Sea have seized another sanctioned oil tanker that the Trump administration says has ties to Venezuela, part of a broader US effort to take control of the South American country's oil. The US Coast Guard boarded the tanker, named Veronica, early Thursday, Homeland Security Secretary Kristi Noem wrote on social media. The ship had previously passed through Venezuelan waters and was operating in defiance of President Donald Trump's "established quarantine of sanctioned vessels in the Caribbean, she said. US Southern Command said Marines and sailors launched from the aircraft carrier USS Gerald R. Ford to take part in the operation alongside a Coast Guard tactical team, which Noem said conducted the boarding as in previous raids. The military said the ship was seized without incident. Several US government social media accounts posted brief videos that appeared to show various parts of the ship's capture. Black-and-white footage showed at least four helicopte
Crisil Ratings on Tuesday said that recent developments in Venezuela are not likely to have any material near-term impact on crude oil prices, as the Latin American nation had a relatively small share of global supply. A US military operation in early January resulted in the capture of President Nicolas Maduro on drug-related charges, triggering uncertainty in the country, which holds some of the world's largest proven crude reserves. Crisil Ratings, in a note, said even if the situation escalates and disrupts crude oil production in Venezuela, the impact on global oil prices would likely be limited, as the country accounts for only about 1.5 per cent of global crude supply. Brent crude prices have remained largely stable in recent days, hovering just above USD 60 a barrel. For India, the developments in Venezuela are unlikely to have any material impact on its global trade or the credit quality of Indian companies. India's direct trade exposure to Venezuela is minimal, it ...
When deposed Venezuelan leader Nicols Maduro makes his first appearance in a New York courtroom Monday to face US drug charges, he will likely follow the path taken by another Latin American strongman toppled by US forces: Panama's Manuel Noriega. Maduro was captured Saturday, 36 years to the day after Noriega was removed by American forces. And as was the case with the Panamanian leader, lawyers for Maduro are expected to contest the legality of his arrest, arguing that he is immune from prosecution as a sovereign head of foreign state, which is a bedrock principle of international and US law. It's an argument that is unlikely to succeed and was largely settled as a matter of law in Noriega's trial, legal experts said. Although Trump's ordering of the operation in Venezuela raises constitutional concerns because it wasn't authorised by Congress, now that Maduro is in the US, courts will likely bless his prosecution because, like Noriega, the US doesn't recognise him as Venezuela's .
An anxious quiet fell over Venezuela's capital on Sunday as trepidation mixed with joy while a nation waited to see what comes next. People were slow to resume routines in Caracas after President Nicols Maduro was deposed and captured in a dramatic US military operation. Dozens of stores, restaurants and churches remained closed. Those on the streets looked shell-shocked, staring at their phones or into the distance. People are still shaken, said 77-year-old David Leal, who arrived to work as a parking attendant but realised he likely would not have customers. He pointed to the deserted street, a few blocks from Venezuela's presidential palace, which was guarded by armed civilians and military personnel. 'May God give us strength' ---------------------------- Venezuela is no stranger to political tumult, but the the dead-of-night US military operation early Saturday marked a new chapter with no ready script. US President Donald Trump initially said the US would run the country un
The US Coast Guard on Sunday was pursuing another sanctioned oil tanker in the Caribbean Sea as the Trump administration appeared to be intensifying its targeting of such vessels connected to the Venezuelan government. The pursuit of the tanker, which was confirmed by a US official briefed on the operation, comes after the US administration announced Saturday it had seized a tanker for the second time in less than two weeks. The official, who was not authorised to comment publicly about the ongoing operation and spoke on the condition of anonymity, said Sunday's pursuit involved a sanctioned dark fleet vessel that is part of Venezuela's illegal sanctions evasion. The official said the vessel was flying a false flag and under a judicial seizure order. The Pentagon and Department of Homeland Security, which oversees the US Coast Guard, deferred questions about the operation to the White House, which did not offer comment on the operation. Saturday's predawn seizure of a Panama-flagg
Venezuela's main opposition coalition on Monday called on the US to cancel the licenses that allow Chevron and other energy companies to operate in the South American country to pressure President Nicols Maduro to negotiate a transition from power. The appeal came from an adviser to the campaign of Edmundo Gonzlez Urrutia, who represented the Unitary Platform coalition in the July 28 election, and his main backer, opposition leader Maria Corina Machado. Gonzlez and Machado claim their campaign won the vote by a wide margin, contradicting the decision of national electoral authorities to declare Maduro the winner. We want them cancelled this is a lifeline to the regime, adviser Rafael de la Cruz said in reference to the licenses during a panel discussion hosted by a Washington-based think tank. We want all the oil companies to go to Venezuela. So, it's not about the companies. It's about the situation that is impoverishing the country so badly that practically the whole population ..