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.
An Iranian supertanker, identified as Honey, arrived at the Venezuelan port of Jose Terminal, carrying 2 million barrels of natural gas liquid (NGL).
According to Reuters, Venezuela’s refineries have almost halted operations because of underinvestment while U.S. sanctions meant to force the ruling Socialist Party from power have severely restricted fuel imports.
An FSO off Venezuela is taking on waterm while it is also at risk of sinking. The FSO Nabarima carries around 1.3 million barrels of crude oil on board.
The US on Wednesday imposed sanctions on five Iranian ship captains who delivered oil to Venezuela, Secretary of State Mike Pompeo informed speaking at a news conference.
Brazil’s Petroleo Brasileiro SA informed shippers that it will not hire any tankers that have visited Venezuela the past 12 months, being in line with U.S. sanctions on the Latin American nation.
Fortune, the Iranian tanker, is sailing towards the 12-nm boundary of Venezuela’s territorial seas, bringing its controversial journey to a close.
