Trump orders oil tankers blockade in Venezuela, labels Maduro regime a "terrorist" group

President Trump designated Venezuela a "foreign terrorist organization" Tuesday and formally ordered a blockade of all U.S. sanctioned oil tankers servicing the country.Why it matters: Trump's newest escalation, which he says is backed by a giant U.S. armada, exerts unprecedented pressure on Venezuelan leader Nicolas Maduro's regime, threatening to bankrupt the country's already struggling economy."Venezuela is completely surrounded by the largest Armada ever assembled in the History of South America. It will only get bigger, and the shock to them will be like nothing they have ever seen before," Trump said on Truth Social.Editor's note: This is a breaking news story. Please check back for updates.