Oil exports, the country’s financial lifeblood, have plummeted after the United States took action against three ships that have been used to carry its crude.

President Donald Trump said Monday that the U.S. is still actively pursuing a sanctioned oil tanker linked to Venezuela, but that he's confident the vessel will be seized. "It's moving along and we’ll end up getting it,

Donald Trump has said the US will keep or sell the crude oil contained on tankers it has seized off the coast of Venezuela, as well as the vessels themselves. The US president's comments came as Washington continues to pressure the South American country's leader Nicolas Maduro to stand down.

China criticized the US for seizing oil tankers off the coast of Venezuela, signaling it stands with Caracas as its confrontation with Washington intensifies.

Tensions between the U.S. and Venezuela are rising after another oil tanker was seized. CBS News' Olivia Rinaldi reports.

The move comes days after the US president said that he was ordering a blockade of sanctioned oil tankers entering and leaving Venezuela.

U.S. ​President Donald Trump said ‌on Monday it would be smart for Venezuelan President ​Nicolas Maduro to leave power, and the United States could keep or sell the ‍oil it had seized ​off the coast of Venezuela in recent weeks.

China has ample reason to oppose the build-up of American military might in Caribbean Sea –and the recent US interceptions of tankers hauling Venezuelan oil.