The Trump administration is tightening the economic vise on Venezuela’s oil sector, sanctioning four companies and blocking associated tankers in its latest move against the Maduro regime.
On December 31, 2025, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions against four firms operating in Venezuela’s petroleum industry, also identifying four tankers as blocked property. The action represents an escalation in Washington’s pressure campaign that has already sent Venezuela’s oil exports plummeting to half their November levels.
“President Trump has been clear: We will not allow the illegitimate Maduro regime to profit from exporting oil while it floods the United States with deadly drugs,” said Treasury Secretary Scott Bessent in a statement. “The Treasury Department will continue to implement President Trump’s campaign of pressure on Maduro’s regime.”
Tankers in the Crosshairs
The sanctioned entities include Corniola Limited and Krape Myrtle Co LTD, which are linked to the vessel NORD STAR. Also targeted were Winky International Limited, connected to the tanker ROSALIND (also known as LUNAR TIDE), and Aries Global Investment LTD, which is associated with two vessels — the DELLA and VALIANT. All were penalized under Executive Order 13850 for transporting Venezuelan oil.
What’s happening on the ground in Venezuela as a result? The country’s storage facilities are rapidly filling with residual fuel that can’t be exported. With sanctioned tankers unable to enter or leave Venezuelan ports, state oil company PDVSA has been forced to cut exports dramatically and implement emergency measures to prevent its refineries from shutting down entirely.
The blockade has been brutally effective. Venezuela’s petroleum exports in December crashed to approximately 475,000 barrels per day — roughly half the 950,000 bpd the country managed to ship in November. Since mid-December, virtually the only oil leaving Venezuelan terminals has been aboard vessels chartered by Chevron, PDVSA’s U.S. partner that operates under a special Treasury license.
Mounting Pressure
The Treasury’s move follows a series of tanker seizures earlier in December, suggesting an intensification of enforcement actions as the Trump administration returns to power. Two Venezuelan oil cargoes were intercepted this month alone.
Is this the endgame for Venezuela’s oil industry? Not quite, but the situation grows more dire by the week. The country that sits atop the world’s largest proven oil reserves now struggles to get its product to market, with tanks filling to capacity and few buyers willing to risk U.S. sanctions.
The shipping companies targeted in Tuesday’s action haven’t publicly responded to the sanctions. However, similar actions in the past have effectively removed vessels from the Venezuela trade, as owners seek to avoid being caught in Treasury’s expanding enforcement net.
For Maduro’s government, already dealing with a crippled economy and humanitarian crisis, the tightening oil sanctions represent yet another challenge to its grip on power — exactly as the Trump administration intends.
