US forces have seized an oil tanker off the coast of Venezuela, in a major escalation of Donald Trump’s four-month pressure campaign against the South American country’s dictator, Nicolás Maduro.
US forces have seized an oil tanker off the coast of Venezuela, in a major escalation of Donald Trump’s four-month pressure campaign against the South American country’s dictator, Nicolás Maduro.
Venezuela wants to sell oil, but is under sanctions. Iran wants to buy oil, but is under sanctions.
That makes sense. I was thinking Iran probably had oil too, but I don’t know enough about their imports/exports.
Iran has the second-largest reserves in the world. However production is limited by ageing infrastructure and sanctions. It is also the second-largest oil consumer, as the cheap cost has meant there has been no incentive for efficient use.