Trump's Oil Blockade: Venezuela's Tipping Point?

US President Donald Trump has announced a blockade on sanctioned Venezuelan oil tankers, exacerbating an already severe economic and social crisis in Venezuela. The threat, aimed at crippling President Nicolás Maduro's government, is expected to deepen Venezuela's economic contraction due to its heavy reliance on oil exports.

US President Donald Trump has threatened a fresh blockade on Venezuelan oil tankers, intensifying the turmoil in a country already grappling with years of economic strife. Venezuelans, accustomed to enduring hardships, reacted to this latest development with resignation but acknowledged the increasing anxiety about their nation's future.

In a bold move, Trump announced on Tuesday his decision to prevent all sanctioned tankers from delivering oil to Venezuela. This act significantly ratchets up pressure on Venezuelan President Nicolás Maduro, who leads a nation with the largest proven oil reserves, currently producing approximately 1 million barrels daily.

Trump, in a social media post, claimed Venezuela's oil funds drug trafficking, which he stated must be curbed by further military buildup. However, he did not provide evidence for his assertion. With oil constituting 90% of Venezuela's exports, experts predict disastrous economic consequences should the blockade be fully enforced.

(With inputs from agencies.)