Tag: Venezuela

The US decided to ease sanctions to enable Venezuelan oil to be transported to Europe to help those countries reduce their dependence on Russian oil.

An Iran-flagged supertanker on Saturday was about to set sail from Venezuelan waters carrying 2 million barrels of heavy crude, according to documents seen by Reuters.

The Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued three separate and related general licenses (GLs) relevant to the sanction programmes targeting Iran, Syria, and Venezuela.

On 1 June 2021, the US Office of Foreign Assets Control (OFAC) extended the provisions of General License 8G, authorizing certain PdVSA-related transactions and activities for some US-based energy corporations. 

The 0.5% sulphur limit is valid for ships equal to or greater than 400 gross tonnage operating in Venezuela, but vessels under the special permit regime, engaged in coastal and domestic navigation, will continue to use fuel by national supplier, until there is availability of IMO-compliant fuel.

A crew member onboard a Cuba-flagged oil tanker on its way from a Mexican shipyard to Venezuela, was reported missing, according to a shipping report seen by Reuters.

On 19 January, the US Office of Foreign Asset Control (OFAC) added several entities and individuals to the Specially Designated Nationals list, including the Venezuelan National Institute of Aquatic Spaces (INEA), which is the Venezuelan Maritime Authority.

The United States blacklisted oil trading firms, individuals and ships that have helped Venezuelan oil company PDVSA, sell crude mainly to Asia, despite Washington's sanctions on the South American nation.

A tanker chartered by the National Iranian Oil Company (NIOC) is loading Venezuelan crude for export, as documents from state-run PDVSA show. This provides evidence of the two countries’ latest tactics to expand their trade in defying U.S. sanctions.

After defying U.S. sanctions by shipping a cargo of oil condensate to Venezuela last week, Iran is now using the same ship to help Venezuela export its crude.