The United States military on January 7, 2026, announced the seizure of a Russian-flagged oil tanker in the North Atlantic for sanctions violations, bringing an end to a multi-week pursuit by American forces. The North Atlantic operation came despite Russia reportedly sending a submarine and other naval assets to escort the tanker. Since then, Trump has said that the United States will run Venezuela and US companies will control its critical oil industry. US Energy Secretary Chris Wright added on Wednesday that Washington will control sales of Venezuelan oil indefinitely, while state oil company PDVSA said negotiations for the sale of crude to the United States were underway. Leavitt said proceeds from the sale of Venezuelan crude will go to US-controlled accounts and then “will be dispersed for the benefit of the American people and the Venezuelan people”.

Source: New Zealand Herald January 07, 2026 17:01 UTC