Speaking at the UN Security Council, US ambassador Mike Waltz said the US will deprive Maduro's government and resources he uses to fund cartel.
Venezuela's parliament approved a measure on Tuesday to criminalise a range of activities that could disrupt navigaton and commerce in the South American country, including the seizure of oil tankers.
In just two days, the bill was introduced, debated and approved in the National Assembly. The bill would call for fines and prison sentences of up to 20 years for anyone who promotes, requests, supports, finances or participates in "acts of piracy, blockades or other international illegal acts” against commercial entities operating with Venezuela.
It also instructs the executive branch to come up with “incentives and mechanisms for economic, commercial and other protections” for national or foreign entities doing business with Venezuela in the event of piracy activities, a maritime blockade or other unlawful acts.
The bill now awaits the signature of Venezuelan President Nicolás Maduro.
The move comes as the US continues to ramp up its almost four-month pressure campaign on Venezuela's government, with the seizure of oil tankers as its latest strategy to do so.
The Trump administration says it believes the ships are part of Venezuela's shadow fleet, used to evade US economic sanctions. US President Donald Trump also announced a "blockade" of all oil tankers subject to US sanctions that are departing from or bound for Venezuela, demanding the return of assets seized from US oil companies years ago.
In the past month, the US has already seized two oil tankers, and announced it was pursuing a third.
"Sanctioned oil tankers" Speaking at a UN Security Council called by Venezuela, US ambassador Mike Waltz said the sanctioned oil tankers "operate as the primary economic lifeline for Maduro and his illegitimate regime" and fund "the narco-terrorist group Cartel de Los Soles".
“Maduro’s ability to sell Venezuela’s oil enables his fraudulent claim to power and his narco-terrorist activities,” Waltz added. “The United States will impose and enforce sanctions to the maximum extent to deprive Maduro of the resources he uses to fund Cartel de los Soles".