Steven T. Mnuchin, the Treasury Secretary, commented that

Venezuela’s oil belongs to the Venezuelan people, and should not be used as a bargaining tool to prop up dictators and prolong the usurpation of Venezuelan democracy.

Thus, the US Treasure blacklisted the companies: Caroil Transport Marine of Cyprus, Trocana World of Panama, Tovase Development Corp. of Panama and Bluelane Overseas of Panama. In fact, the product tankers which reportedly delivered oil and crude products for Cubametales are Carlota C, Sandino and Petion of Caroil Transport Marine.

The crude tanker Giralt operated by Bluelane Overseas; Petion by Trocana World and Sandino by Tovase Development Corp. are all believed to have delivered the oil to Cuba.

Notably, in July Cubametales, a Cuban state-owned oil trading firm, was blacklisted by the US Treasury, whereas all marine businesses who collaborated with the firm since faced relevant punishments, as well.


Furthermore, the Treasury delisted the shipping companies Serenity Maritime Limited and Lima Shipping Corporation as well as the ships Leon Dias and New Hellas, aiming to enforce compliance and also provide with a means for reclamation.

The Treasury Secretary concluded that

The United States continues to take strong action against the former illegitimate Maduro regime and the malign foreign actors who support it. Maduro’s Cuban benefactors provide a lifeline to the regime and enable its repressive security and intelligence apparatus.