Overview
- The Coast Guard is chasing the Panama‑flagged Bella 1 near Venezuelan waters, with U.S. officials saying it is under a judicial seizure order, flying a false flag and previously sanctioned in June 2024 over links to Iranian crude and Hezbollah‑related networks.
- Two tankers have already been taken: the Skipper on Dec. 10 under a U.S. warrant and the Centuries over the weekend, the latter carrying about 1.8 million barrels of Venezuelan oil despite not being on a U.S. sanctions list.
- President Donald Trump has declared a "total and complete" blockade on sanctioned tankers and said the U.S. will keep or potentially sell seized oil and ships, as a reinforced military presence supports interdictions offshore.
- Venezuela condemns the actions as piracy, while China and Russia call the seizures unlawful and pledge support for Caracas ahead of Tuesday’s Security Council session.
- Export activity has slowed at Venezuelan ports, some tankers have reversed course, and analysts say tightening interdictions are starting to squeeze hard‑currency inflows to an already fragile, oil‑dependent economy.