Friday, 19 April 2019 14:36

US places sanctions on more shipping companies

577 sanctions

The United States has placed more sanctions on shipping companies transporting oil from Venezuela, with four shipping firms and nine vessels being blacklisted amid US Treasury Department claims that some of them were transporting 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. One tanker belonging to each of the Liberian firms and six owned by the Italian firm were blacklisted.  Venezuela has long sent subsidized crude to Cuba. The United States describes the arrangement as an “oil-for-repression” scheme in which Havana helps socialist Maduro weather an economic crisis and the power struggle with the opposition in exchange for fuel. A US Treasury statement said Venezuela’s oil sector continued “to provide a lifeline to the illegitimate regime” of Venezuelan President Nicolas Maduro. Cuba has said it will never abandon its ally even as U.S. President Donald Trump’s administration threatened more sanctions

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