Dec 21, Kathmandu - As tensions between the US and Venezuela escalate, it is expected that Venezuela's foreign trade will come to a standstill.

The US has suspended all foreign trade with Venezuela as tensions escalate. The US has also seized another Venezuelan merchant ship. Earlier, the US had seized a Venezuelan oil tanker.

The move comes after US President Donald Trump said he had ordered a “blockade” of banned oil tankers entering and leaving Venezuela. US security forces also seized an oil tanker off the coast of Venezuela on December 10.

US officials said the seizure of the merchant ship was by mutual agreement. The officers boarded the ship and took control of it.

Venezuela has condemned the latest US seizure, describing it as “theft and kidnapping”. Venezuela has previously accused the US of trying to steal its resources.