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Cathay Pacific slashes fuel surcharges as Middle East tensions ease
08-05-2026 20:31 HKT

Since his first term, US President Donald Trump has targeted Venezuela, intensifying efforts after returning to the White House last year to force President Nicolás Maduro from power.
The administration accuses Maduro of being one of the world's top drug lords, colluding with cartels to flood the US with fentanyl-laced cocaine. Maduro denies this, claiming US actions are a pretext to seize Venezuela's vast oil reserves.
Shortly after his 2025 inauguration, Trump designated several Latin American drug gangs, including Venezuela's Tren de Aragua, as global terrorist organizations and deported associated members from the US.
In August, the bounty on Maduro doubled to US$50 million, labeling him a major narco-trafficker.
In August, the US Navy deployed the USS Gerald R. Ford carrier with aircraft patrolling 40 miles off Venezuelan naval bases, heightening regional tensions.
On December 16, Trump declared the Venezuelan regime a foreign terrorist organization for allegedly stealing US assets and funding drug crimes with oil. He ordered blockades on sanctioned Venezuelan oil tankers.
In recent months, US forces sank several suspected drug-carrying vessels and seized at least two oil tankers, halting millions of barrels in exports.
Amid a two-week standoff chasing a third tanker in the Atlantic, reports emerged of US airstrikes on Venezuela.
Analysts suggest the moves aim to curb Beijing's influence, as China buys 95 percent of Venezuela's oil exports.
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