A watchdog group said it has identified 15 oil tankers used to circumvent US sanctions against crude sales from Venezuela.
The vessels take part in a system of clandestine ship-to-ship transfers off the Venezuelan coast at night, according to the report from the Venezuelan chapter of Transparency International, which is operating in exile. The transfers happen on a regular basis, with ship transponders turned off and with no oversight or safety monitoring from port authorities.
Many of the ships that enter the sanctions-busting trade were inactive or soon-to-be scrapped — such as the Aframax Cape Balder, which was once listed as inactive and set to be scrapped, according to the report. Many of the ships also change names when starting in the sanctioned shipments realm, such as the Panamax Nabiin, which was formerly known as Euroforce, according to the report.
Most of the cargoes end up in China where they are rebranded as Brazilian, Malay or Singaporean crude, according to the report.
Of the 15 vessels identified, five are registered in the Comoro Islands, four in Panama, and the rest in other locations. They include seven very large crude carriers (VLCCs), seven Panamax and one Aframax.
Aside from the financial incentives, Venezuela relies so heavily on the crude smuggling schemes to deal with a shortage of oil storage, according to the report. Since the first round of US sanctions on the country started in 2019, storage space in the country's Bajo Grande and Ule sites has tightened significantly and has at times forced a reduction in crude production.
The other ships named in the report include: the VLCC Varada Blessing; Panamax Jacinda; Panamax Petrogaruda; VLCC Vieira; VLCC Longevo; VLCC Alice; Panamax Sinar G; VLCC Champ; VLCC Latitude; VLCC Ekta; Panamax Colon; Panamax Tailwinds; Panamax Veronica.
