The ship’s predicament shows the ripple effects of U.S. moves to control more of Venezuela’s oil riches.

The DOE said it hopes to provide a stable domestic fuel supply for the nation's 94 commercial nuclear reactors.

Brazil, an agricultural powerhouse, has seen exports surge since Lula returned to office in 2023.

At least 11 ships chartered by the U.S. oil major are scheduled to arrive in the Venezuelan government-controlled ports of Jose and Bajo Grande later in January.

The civil penalty issued by regulators is roughly equal to the combined $8-10 million in fines the agency issues each year on average.

The vessels that definitely exited the Latin American nation’s territorial waters were transporting about 4 million barrels of crude and fuel.

It’s unclear how willing oil giants are to pour substantial sums of money into a country run by a temporary U.S.-backed government without established legal and fiscal rules.

The sanctions represent the latest move in President Donald Trump’s pressure campaign against Maduro over alleged drug trafficking operations.

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According to multiple academic and think tank studies, neither will bring dramatic improvements, and they may instead harm the economy.