US Sanctions on Venezuela Drive Oil Prices, December 22

The United States has intensified its sanctions on Venezuela, focusing on a third oil tanker linked to the nation. This strategic move, following a direct order by President Trump, aims to blockade sanctioned tankers, impacting Venezuela’s ability to export oil. This action is stirring the global oil market, causing fluctuations in oil prices. As the UK monitors these developments closely, the repercussions are significant, affecting both international trade and energy sectors. Let’s delve into the implications of these sanctions on the global oil market and Venezuela’s economy.