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US slaps sanctions on 4 shipping firms, 9 ships and carrying oil from Venezuela

Logistic News - Published on Wed, 17 Apr 2019

Image Source: ARY News
The United States announced more sanctions on shipping companies transporting oil from Venezuela, blacklisting four shipping companies and nine vessels, some of which the US Treasury Department said carried oil to Cuba. The US Treasury identified the firms as Liberia-based Jennifer Navigation Ltd, Lima Shipping Corp and Large Range Ltd, and Italy-based PB Tankers SPA. It blacklisted one tanker belonging to each of the Liberian firms and six owned by the Italian firm. A Treasury statement said Venezuela’s oil sector continued to provide a lifeline to the illegitimate regime of Venezuelan President Nicolas Maduro.

Treasury Secretary Mr Steven Mnuchin said in the statement “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.”

The sanctions prohibit dealings with the firms by US citizens and block the companies’ financial interests in the United States.

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Posted By : Rabi Wangkhem on Wed, 17 Apr 2019
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