Washington: U.S. President Donald Trump has mandated a blockade on all oil tankers that are subject to sanctions from entering or exiting Venezuela. This move represents the latest effort by the U.S. to amplify pressure on the Venezuelan government led by President Nicol¡s Maduro, directly targeting the nation’s primary revenue source.

According to Thai News Agency, the specifics of how President Trump plans to enforce these sanctions on the ships remain uncertain. The announcement has already influenced the market, with U.S. crude oil futures rising by more than 1 percent to $55.96 per barrel during Asian trading.

The Venezuelan government responded with a statement rejecting what it termed as Trump’s “abhorrent threat.” In an earlier address, President Maduro advocated for peace while simultaneously accusing the United States of attempting to seize Venezuela’s natural resources.