US Sanctions Nine Ships, Four Owners for Venezuela Ties

Another four shipping companies and nine vessels that operate in the oil sector of the Venezuelan economy have been blacklisted, according to the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC).

The most hit was Italy-based PB Tankers as OFAC blacklisted almost its entire fleet, namely the vessels Silver Point, Alba Marina, Gold Point, Ice Point, Indian Point, and Iron Point. The company is a registered owner of six vessels and manager of one unit.

Data provided by OFAC noted that the company’s chemical and oil tanker Silver Point delivered oil products from Venezuela to Cuba during March 2019.

Additionally, sanctions were imposed on the crude oil tanker Nedas, owned by Liberia-based Jennifer Navigation, for delivering crude oil from Venezuela to Cuba during January and March of 2019.

Lima Shipping Corporation’s crude oil tanker New Hellas was blacklisted for delivering crude oil from Venezuela to Cuba during February and March 2019. The blacklist now also includes oil products tanker S-Trotter, owned by Large Range Limited, that delivered oil products from Venezuela to Cuba during February and March 2019.

“We continue to target companies that transport Venezuelan oil to Cuba, as they are profiting while the Maduro regime pillages natural resources. Venezuela’s oil belongs to the Venezuelan people, and should not be used as a bargaining tool to prop up dictators and prolong oppression,” Steven T. Mnuchin, Treasury Secretary, said.