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OFAC Sanctions Four Businesses And Four Crude Oil Tankers For Allegedly Aiding Venezuela’s Maduro


The Federal government last week announced sanctions against a quartet of companies as well as four ships for their alleged involvement in supporting the Maduro regime in Venezuela.

Per the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), the four companies and four vessels aided the Maduro regime in avoiding international embargoes on the sale of Venezuelan petroleum. The United States government has long stood in opposition to Maduro’s leadership of the country, and OFAC says it is prepared to sanction those found out aiding the regime by cutting off its access to the United States economy.

Three of the sanctioned firms are based in the Marshall Islands, noted OFAC, with the fourth firm based in Greece. The four shipping vessels designated by OFAC were crude oil tankers and were based in four different countries: the Marshall Islands, the Bahamas, Malta, and Panama.

OFAC notes that each of the four ships has recently been used in illicit transports of Venezuelan crude oil, with the most recent engagements of the ships having occurred between February and March of this year.

As with all such designations, those sanctioned today by OFAC are not now legally allowed to access property they own or control in the United States, and Americans are forbidden from transacting business with them. Foreign nationals who continue to trade with sanctioned entities risk sanctioning themselves, notes OFAC.

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