PdV diverting Iranian gasoline to Cuba

Venezuela's state-owned PdV is diverting around 100,000 bl of gasoline recently imported from Iran to its close ally Cuba, according to three company officials with direct knowledge of the operation.

The Cuba-flagged Carlota C, recently renamed Maria Cristina, is currently moored at El Palito's anchorage preparing to load the gasoline.

The small tanker is one of four sanctioned in September 2019 by the US for transporting refined products from PdV terminals in Venezuela to Cuba. More tankers involved in Venezuelan oil trade have since been added to the list.

The newly sanctioned vessel's last port of call was Moa, Cuba, according to ship-tracking data. It is among a small fleet that shuttles Venezuelan oil to the island under an opaque bilateral supply agreement dating back to 2000. Cuba pays for the Venezuelan supply with the deployment of specialists in security, healthcare and other areas in Venezuela.

Both countries as well as Iran are the targets of US sanctions. Washington blames Havana for propping up the Venezuelan government of President Nicolas Maduro, who has so far overcome years of escalating sanctions.

Over recent weeks, Venezuela received five shipments of gasoline and alkylate from Iran meant to ease an acute fuel shortage. But distribution under the government's new rationing and pricing system has been chaotic, with much of the supply already exhausted by pent-up demand.