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Venezuela Oil Exports Drop After U.S. Sanctions on Key Traders bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
New U.S. sanctions on traders choke Venezuelaâs oil exports By Lucia Kassai on 3/2/2021 Tanker at Venezuelan oil export terminal (Bloomberg) Venezuela oil exports dropped in February after the U.S. sanctioned key trading houses and individuals that had been propping up exports of the commodity that bankrolls President Nicolas Maduroâs regime. Crude shipments fell to 418,857 barrels a day in February, a 13% drop from January, according to shipping reports and ship-tracking data compiled by Bloomberg. In mid-January the U.S. blacklisted Maltese trading company Elemento Limited and Geneva-based Swissoil Trading SA for facilitating Maduroâs attempts to circumvent U.S. sanctions. ....
Venezuela Oil Exports Drop After U.S. Sanctions on Key Traders msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
China Imports Oil Doctored to Skirt U.S. Sanctions on Venezuela swissinfo.ch - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from swissinfo.ch Daily Mail and Mail on Sunday newspapers.
It may be the oil market s worst-kept secret. (Bloomberg) It may be the oil market’s worst-kept secret: Millions of barrels of Venezuelan heavy crude, embargoed by the U.S., have been surreptitiously going to China. The cat-and-mouse games that avoid detection and sanctions include ship-to-ship transfers, shell companies and silenced satellite signals. But there’s another aspect to the dodge. It involves “doping” the oil with chemical additives and changing its name in the paperwork so it can be sold as a wholly different crude without a trace of its Venezuelan roots. Invoices and emails reviewed by Bloomberg show the lengths to which some traders will go to disguise the crude’s origin and get it to Asia, making Chinese refineries an essential lifeline for Venezuela’s battered oil industry. U.S. officials, of course, can’t ban Chinese or any international companies from buying Venezuelan oil. They can financially squeeze them, though, by prohibiting th ....