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US issues fresh Venezuela oil sanctions to press Maduro more

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Christian Fernsby ▼ | April 5, 2019
Despina Andrianna
LatAm   Treasury is taking action against vessels and entities transporting oil

The U.S. on Friday designated two companies in the Venezuelan oil sector and 34 vessels owned by Caracas' state-run oil company in a bid to further ramp up economic pressure on President Nicolas Maduro.

Ballito Bay Shipping Inc. and ProPer in Management Inc. were blacklisted for operating in Venezuela's oil sector, according to the Treasury Department. Despina Andrianna, a ship the U.S. agency said was used to ship oil to Cuba, was also designated.

"Treasury is taking action against vessels and entities transporting oil, providing a lifeline to keep the illegitimate Maduro regime afloat," Treasury Secretary Steven Mnuchin said in a statement. "Cuba continues to profit from, and prop up, the illegitimate Maduro regime through oil-for-repression schemes as they attempt to keep Maduro in power."

The 34 vessels were designated blocked property of Venezuela's state-owned oil company, Petroleos de Venezuela, or PDVSA, which the U.S. designated in January amid a political stalemate in the Latin American nation.


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