00:00U.S. President Donald Trump has ordered a total blockade of all sanctioned oil tankers
00:05moving in and out of Venezuela.
00:08Trump says the government of Venezuelan President Nicolás Maduro
00:11is now designated as a foreign terrorist organization,
00:16accusing it of stealing U.S. assets as well as drug smuggling and human trafficking.
00:22It is still unclear how the administration plans to enforce the blockade,
00:26including whether it will direct the U.S. Coast Guard to intercept vessels,
00:30as it did during operations targeting Venezuelan oil shipments last week.
00:35The move comes as Washington has already moved thousands of troops
00:38and nearly a dozen warships into the region, including an aircraft carrier.
00:44Venezuela's government has rejected what it called Trump's threat.
00:48President Maduro urged peace while accusing the U.S. of trying to seize the country's natural resources.
00:53The United States, under both Trump and former President Joe Biden,
00:58has long opposed the Maduro government and has sought to force him from power through tough sanctions.
01:04Trump's latest move has raised geopolitical tensions at a time of concern over global oil demand,
01:10pushing prices up more than 1% on Wednesday.
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