Trump willing to seize more oil tankers off Venezuela coast: White House

President Donald Trump is willing to seize more oil tankers off the coast of Venezuela, a White House official told CNBC on Thursday.

The United States on Wednesday seized a tanker allegedly carrying oil from Venezuela to Iran. The action comes as Trump increases pressure on President Nicolás Maduro.

A White House official told CNBC that the Trump administration always tries to enforce the law.

The oil market remains focused on Ukrainian peace talks and so far shows no risk of major supply disruptions. US crude oil Oil fell 86 cents, or 1.47%, to close at $57.60 a barrel. Global benchmark Brent It settled at $61.28, down 93 cents, or 1.49%.

Sources told Reuters The US is expected to target more ships carrying Venezuelan crude oil in the coming weeks. Treasury Department updated Venezuela sanctions list More than a dozen people, companies and tankers will be added on Thursday.

Matt Smith, chief US analyst for energy consultancy firm Kpler, told CNBC that the tanker seized on Wednesday was a Very Large Crude Carrier (VLCC) identified as Skipper. That ship was secretly loaded with 1.1 million barrels in mid-November and headed for Cuba, Smith said.

White House Press Secretary Karoline Leavitt told reporters on Thursday that the tanker would be taken to a US port and the oil would be seized. “But there is a legal process for seizing that oil, and that legal process will be followed,” Leavitt said.

The seizure of the tanker comes amid a massive US military buildup in the Caribbean. The Trump administration has launched a series of deadly attacks in recent months on boats it says are smuggling drugs into the United States. These attacks have been the subject of intense scrutiny in Congress regarding their legality.

Venezuela is a founding member of OPEC and has the world’s largest proven oil reserves. About 749,000 barrels per day are exported this year, with at least half of that oil going to China, according to data from Kpler.