economy
February 12, 2026
Venezuela renews oil shipments to Israel
Israel has reportedly received a crude shipment from Venezuela after the US imposed a blockade on the country and kidnapped its president
TL;DR
- Israel has reportedly received its first crude oil shipment from Venezuela since mid-2020.
- The US has imposed a blockade on Venezuela and claimed control over its oil exports.
- At least seven tankers violating US sanctions have been seized.
- The oil is reportedly being transported to Israel's largest crude processor, Bazan Group.
- Venezuela's Information Minister called the report "FAKE!".
- Other countries like India and Spain have also recently received Venezuelan crude.
- China has shifted to Iranian crude and condemned US actions against Venezuela.
- US President Trump stated plans to "control Venezuela’s oil resources indefinitely."
- Russia's Foreign Minister accused the US of trying to dominate global energy supply routes.
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