US sanctions six tankers for Venezuela trade

Market: Crude oil, Freight
19/01/21

The US Treasury Department has designated six tankers for violating US sanctions on Venezuela's oil sector.

The tankers include Cameroon-flagged Panamax crude oil tanker Balita, Suezmax tankers Freedomand shuttle tanker Domani. The Balita is currently in transit, scheduled to arrive in Malaysia on Jan 24, according to Vortexa.

The Liberian-flagged Aframax Baliar was also among the targeted tankers. All of the vessels are managed and operated by Fides Ship Management, located in Odessa, Ukraine, according to the US Treasury.

The US also designated Russian-flagged tankers, the very large crude carrier Maksim Gorky and AframaxSierra. Maksim Gorkyis owned by Instituto Nacional de los Espacios Acuaticos e Insulares (INEA), located in Venezuela and Sierra is owned by Rustanker, located in Krasnodarskiy Kray, Russia, according to the US.

The ships were designated and "blocked" for operating in the oil sector of the Venezuelan economy, according to the US Treasury.

"The United States remains committed to targeting those enabling the Maduro regime's abuse of Venezuela's natural resources," said Treasury secretary Steven Mnuchin said.

The outgoing US administration has been targeting the shipping sector to enact its "maximum pressure" policy to oust Venezuelan president Nicolas Maduro from power.

Along with the vessels the Department of the Treasury's Office of Foreign Assets Control (OFAC) designated three individuals and fourteen companies as part of the Venezuelan sanction evasion network.

By Liz Ramanand

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