US lifts Venezuela-related sanctions from shipping companies and vessels

The United States Treasury Department on July 2 reportedly lifted sanctions of four shipping companies and tankers that had transported Venezuelan oil earlier this year. As per reports, the companies, including Marshall Islands-based Delos Voyager Shipping Ltd, Sanibel Shiptrade Ltd, Adamant Maritime Ltd, and Greece-based Romina Maritime Co Inc, were sanctioned back in June as part Washington’s escalating sanctions on Venezuela, which were aimed at forcing President Nicolas Maduro from power. 

As per reports, the US officials and industry representative discussed that Venezuela sanctions and recognised that it is a ‘very toxic moment’ to do business with the oil-rich country. The companies reportedly also pledged not to do more business with Venezuela. A Treasury representative also confirmed that the delisted entities had committed to cease involvement in the Venezuelan oil sector as long as Maduro remains in power. 

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Vessel companies against Venezuela 

The US representative reportedly said that the primary goal for the imposition of sanctions under OFAC’s (US Office of Foreign Assets Control) various authorities is to promoted behavioural change. He further added that the entities and vessels delisted credibly showed that they have stopped engaging in sanctionable activities. The delisting of the companies also comes after the US had threatened to blacklist dozens of tankers that had traded with Venezuela. 

The United States also reportedly removed several vessels from the blacklist. The vessels include the Seahero, Voyager I, Delos Voyager and Euroforce oil tankers. While speaking to an international media outlet, the manager of Seahero said that they were adopting a ‘firm policy’ against transporting oil from Venezuela. The manager of NGM Energy, owner of Voyager I, on the other hand, said that they had ‘implemented enhanced compliance control'. 

(Image: Rep/AP) 

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