Oil tankers avoid Venezuela as US mulls sanctions on ships
Oil tankers that were sailing toward Venezuela have turned around as the US considers imposing sanctions on the ships, Reuters reported, adding that Chinese oil firms are considering whether to decline to charter any tanker that has visited Venezuela in the past year, no matter where the ship is now or for what voyage.
US is seeking to oust the socialist government of Venezuela’s President Nicolas Maduro by depriving the oil exports that fund his regime. The measures have contributed to a fall in Venezuelan oil exports to a 17-year low and deepened the country’s economic crisis but Maduro still holds on to power much to the dismay of the Administration of US President Donald J. Trump.
Since the weekend two oil ships that were sailing towards Venezuela to load up on crude turned away, according to Reuters.
The US does not recognise Maduro as Venezuela’s rightful leader backing his opponent Juan Guaidó as Venezuela’s interim president.