Washington increases pressure on Venezuelan oil trade

The US government has sanctioned four companies and four associated oil tankers for operating in Venezuela’s oil sector.

IMAGE: Flags of the US and Venezuela. Getty Images

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned the vessels for allegedly being part of Venezuela’s shadow fleet, which it said provides financial resources to President Nicolás Maduro’s “illegitimate narco-terrorist regime.”

“Maduro’s regime increasingly depends on a shadow fleet of worldwide vessels to facilitate sanctionable activity,” the OFAC claimed.

The US treasury department has targeted oil tanker NORD STAR, along with its owner Corniola and manager Krape Myrtle, for transporting sanctioned Venezuelan oil.  

Another target, ROSALIND, which also goes by another name – LUNAR TIDE – has conducted similar shipments, OFAC said. It has sanctioned the vessel along with its registered owner Winky International.

The US administration has sanctioned two more vessels and their owners for conducting similar fraudulent oil trades, it said.

OFAC has alleged that these vessels engage in other obfuscation techniques to hide their activities, including ship-to-ship (STS) transfers after daylight hours, Automated Identification System (AIS) spoofing and conspicuous gaps in AIS location reporting.

More than a dozen loaded vessels in Venezuela currently await new directions from their owners after the US seized the oil tanker Skipper in December.

The news builds on a complete ban announced by US President Donald Trump, on sanctioned oil tankers carrying Venezuelan oil, escalating pressure on Venezuelan President Nicolás Maduro to step down.

By Aparupa Mazumder

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