Venezuela reacts defiantly to US oil blockade

CARACAS

Venezuela struck a defiant note on Dec. 17, insisting its crude oil exports were not impacted by U.S. President Donald Trump's announcement of a potentially crippling blockade.

Trump's declaration on Dec. 16 marked a new escalation in his months-long campaign of military and economic pressure on Venezuela's authoritarian leftist President Nicolas Maduro.

Venezuela, which has the world's largest proven oil reserves, shrugged off the threat of more pain, insisting it was proceeding with business as usual.

"Export operations for crude and byproducts continue normally. Oil tankers linked to PDVSA operations continue to sail with full security," state oil company Petroleos de Venezuela (PDVSA) said.

Trump said on Dec. 16 he was imposing "A TOTAL AND COMPLETE BLOCKADE OF ALL SANCTIONED OIL TANKERS going into, and out of, Venezuela."

On Dec. 17, he reiterated that U.S. forces would not "let anybody go in...that shouldn't be going through," and accused Venezuela once again of taking "all of our oil."

Maduro held telephone talks with U.N. Secretary-General Antonio Guterres to discuss what he called the "escalation of threats" from Washington and their "implications for regional peace."

Guterres urged both sides to "exert restraint and de-escalate tensions to preserve regional stability."

Venezuela's economy, which has been in freefall over the last decade under Maduro, relies heavily on petroleum exports.