US issues fresh sanctions targeting Venezuela’s oil sector
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The US Treasury Department said it imposed sanctions on oil traders engaged in sanctions evasion for Venezuelan President Nicolas Maduro’s government.
PHOTO: REUTERS
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WASHINGTON/HOUSTON – The US on Dec 31 imposed sanctions on four companies it said were operating in Venezuela’s oil sector as well as on associated oil tankers, as President Donald Trump’s administration increases pressure on Venezuelan President Nicolas Maduro.
The sanctions mark the latest action in Mr Trump’s pressure campaign against Mr Maduro, which has included a ramped-up US military presence in the region and more than two dozen strikes on vessels allegedly involved in trafficking drugs in the Pacific Ocean and Caribbean Sea.
Earlier in December, Mr Trump announced a blockade on all sanctioned vessels
The US Treasury Department said in a statement that it imposed sanctions on oil traders engaged in sanctions evasion for Mr Maduro’s government. Among the targets were four tankers, some of which the Treasury accused of being part of the so-called “shadow fleet”.
The “shadow fleet” refers to ships that carry oil under sanctions. They are typically old, their ownership opaque, and they sail without top-tier insurance cover to meet international standards for oil majors and many ports.
“Today’s action further signals that those involved in the Venezuelan oil trade continue to face significant sanctions risks,” the Treasury said in the statement.
The Venezuelan Communications Ministry, which handles all press queries for the government, did not immediately respond to a request for comment.
Panama-flagged Nord Star, Guinea-flagged Lunar Tide and Hong Kong-flagged Della – all hit with sanctions on Dec 31 – have transported Venezuelan crude or fuel in 2025 to destinations in Asia and the Caribbean, according to internal documents from Venezuela’s state energy company Petroleos de Venezuela (PDVSA) and ship tracking information.
Hong Kong-flagged supertanker Valiant, which is also owned by one of the sanctioned companies, Aries Global Investment, has not carried Venezuelan crude, according to PDVSA’s records.
The supertanker Della, which was scheduled to load crude at Venezuela’s Jose port in December, made a U-turn on Dec 21 after the US Coast Guard tried to intercept two more Venezuela-related vessels in the Caribbean Sea, and is now on its way to Asia, the tracking data showed.
The sanctions on the four vessels come after Washington earlier in December designated six Venezuela-related tankers
“President Trump has been clear: We will not allow the illegitimate Maduro regime to profit from exporting oil while it floods the United States with deadly drugs,” Treasury Secretary Scott Bessent said in the statement.
Mr Maduro and his government have vehemently denied involvement in criminal activity and say the US is pursuing regime change to take control of Venezuela’s vast oil reserves.
The US blockade stopping sanctioned tankers going in and out of Venezuela has kept the country’s exports almost paralysed, and the accumulation of residual fuel inventories at Venezuela’s onshore tanks is forcing state company PDVSA to resort to extreme solutions to avoid the shutdown of refining units, Reuters reported earlier on Dec 31. REUTERS
