CARACAS, Venezuela -- U.S. President Donald Trump is threating to blockade sanctioned oil tankers from Venezuela, a move that could devastate a country already wrangling with years of spiraling crisis.

Venezuela's parliament on Tuesday approved a measure that would criminalize a broad range of activities that can hinder navigation and commerce in the South American country, such as the seizure of oil tankers.

Most oil production comes from Orinoco Belt; actual output still behind historical peak daily production capacity - Anadolu Ajansı

Escalating U.S. military action against Venezuela has lifted oil prices, as investors have begun pricing in the possibility that a regime change could eventually unlock one of the world’s largest oil reserves.