US issues fresh sanctions targeting Venezuela’s oil sector
The sanctions mark the latest action in Trump’s pressure campaign against Maduro; This action included increasing the US military presence in the region and more than two dozen attacks on ships allegedly smuggling drugs in the Pacific Ocean and Caribbean Sea.
Earlier this month, Trump announced a blockade of all sanctioned ships entering or leaving Venezuelan waters as part of a strategy to pressure Maduro. The move helped reduce Venezuela’s oil exports this month to about half their November levels.
The US Treasury Department said in a statement that it imposed sanctions on oil traders who evaded sanctions on behalf of the Maduro government. Among the targets were four tankers, some of which the Treasury accused of being part of a so-called “shadow fleet”.
The “shadow fleet” refers to sanctioned oil-carrying ships. They are typically old, of uncertain ownership, and sail without top-tier insurance coverage to meet international standards for oil majors and many ports.
“Today’s action signals that those involved in Venezuelan oil trade continue to face significant sanctions risks,” the Treasury said in its statement. he said.
Venezuela’s communications ministry, which answers all media questions on behalf of the government, did not immediately respond to a request for comment. Panama-flagged Nord Star, Guinea-flagged Lunar Tide and Hong Kong-flagged Della (all hit by sanctions on Wednesday) have carried Venezuelan crude oil or fuel to destinations in Asia and the Caribbean this year, according to internal documents and ship tracking information from Venezuela’s state energy company PDVSA.
The Hong Kong-flagged supertanker Valiant, owned by Aries Global Investment LTD, one of the sanctioned companies, did not transport Venezuelan crude, according to PDVSA’s records.
The supertanker Della, which was scheduled to load crude oil from the Venezuelan port of Jose this month, made a u-turn on Dec. 21 and is now headed for Asia after the U.S. Coast Guard attempted to intercept two more Venezuela-bound ships in the Caribbean Sea, tracking data show.
The sanctions against the four ships come after Washington designated six tankers related to Venezuela earlier this month.
“President Trump was clear: We will not allow the illegitimate Maduro regime to profit by exporting oil while flooding the United States with lethal drugs,” Treasury Secretary Scott Bessent said in a statement. he said.
Maduro and his government vehemently deny involvement in criminal activity and say the United States is seeking regime change to gain control of Venezuela’s vast oil reserves.
A U.S. blockade preventing sanctioned tankers from entering and exiting Venezuela has nearly paralyzed the country’s exports, and the buildup of remaining fuel stocks in Venezuela’s onshore tanks is forcing state company PDVSA to resort to extreme measures to prevent the closure of its refining units, Reuters reported early on Wednesday.
