Venezuela’s oil exports have come to a standstill due to ongoing political turmoil, according to sources

Venezuela’s oil exports, which had decreased due to U.S. President Donald Trump’s declared ban on all sanctioned tankers entering and leaving the nation’s waters, are now at a standstill because port captains have not been asked to allow loaded ships to leave, according to four people familiar with the situation on Saturday.

As the United States removed President Nicolas Maduro and his spouse from the capital city of Caracas and declared it would supervise a democratic transition in the South American nation, the stagnation became apparent.

On Saturday, President Trump declared that a “oil embargo” was in full force against the nation.

According to monitoring data, a number of ships that had lately loaded fuel and petroleum for locations like the United States and Asia have not sailed, while others that had waited to load had departed empty. Jose, the nation’s principal oil port, did not have any tankers loading on Saturday, according to TankerTrackers.com.

According to sources and PDVSA documents, storage tanks and even ships used for floating storage have filled up quickly in recent weeks, so a complete suspension of oil exports, including tankers chartered by state-run PDVSA’s primary partner Chevron (CVX.N), opens new tab, could hasten the nation’s need to reduce output at oilfields.

Requests for comment were not immediately answered by Chevron or PDVSA.

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