April 12, 2019: OFAC sanctions Cuba-Venezuela oil commerce

On Friday, OFAC sanctioned the following entities:

JENNIFER NAVIGATION LIMITED (a.k.a. JENNIFER NAVIGATION LTD.), 80 Broad Street, Monrovia, Liberia; Identification Number IMO 4098018 [VENEZUELA-EO13850]. 

 

LARGE RANGE LIMITED, 80 Broad Street, Monrovia, Liberia; Identification Number IMO 6002286 [VENEZUELA-EO13850]. 

 

LIMA SHIPPING CORPORATION (a.k.a. LIMA SHIPPING CORP), 80 Broad Street, Monrovia, Liberia; Identification Number IMO 4063640 [VENEZUELA-EO13850]. 

 

PB TANKERS S.P.A. (a.k.a. PB TANKERS SPA), Via Principe di Belmonte 55, Palermo PA 90139, Italy; Via Jacopo Peri 1, Rome RM 00198, Italy; Website http://www.pbtankers.com; Email Address info@pbtankers.com; Identification Number IMO 5161787 [VENEZUELA-EO13850].

and cargo vessels:

ALBA MARINA Floating Storage Tanker Italy flag; Vessel Registration Identification IMO 9151838 (vessel) [VENEZUELA-EO13850] (Linked To: PB TANKERS S.P.A.). 

 

GOLD POINT Chemical/Oil Tanker Malta flag; Vessel Registration Identification IMO 9506693 (vessel) [VENEZUELA-EO13850] (Linked To: PB TANKERS S.P.A.). 

 

ICE POINT Chemical/Oil Tanker Italy flag; Vessel Registration Identification IMO 9379337 (vessel) [VENEZUELA-EO13850] (Linked To: PB TANKERS S.P.A.). 

 

INDIAN POINT Chemical/Oil Tanker Malta flag; Vessel Registration Identification IMO 9379325 (vessel) [VENEZUELA-EO13850] (Linked To: PB TANKERS S.P.A.). 

 

IRON POINT Chemical/Oil Tanker Malta flag; Vessel Registration Identification IMO 9388209 (vessel) [VENEZUELA-EO13850] (Linked To: PB TANKERS S.P.A.). 

 

NEDAS Crude Oil Tanker Greece flag; Vessel Registration Identification IMO 9289166 (vessel) [VENEZUELA-EO13850] (Linked To: JENNIFER NAVIGATION LIMITED). 

 

NEW HELLAS Crude Oil Tanker Greece flag; Vessel Registration Identification IMO 9221891 (vessel) [VENEZUELA-EO13850] (Linked To: LIMA SHIPPING CORPORATION). 

 

SILVER POINT Chemical/Oil Tanker Malta flag; Vessel Registration Identification IMO 9510462 (vessel) [VENEZUELA-EO13850] (Linked To: PB TANKERS S.P.A.). 

 

S-TROTTER Oil Products Tanker Panama flag; Vessel Registration Identification IMO 9216547 (vessel) [VENEZUELA-EO13850] (Linked To: LARGE RANGE LIMITED).

under its Venezuela sanctions program.

The Treasury Department:

Treasury Increases Pressure on Cuba to End Support to Maduro by Imposing Further Oil Sector Sanctions

Washington – Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated four companies that operate in the oil sector of the Venezuelan economy, pursuant to E.O. 13850, as amended.  Additionally, OFAC identified nine vessels, some of which transported oil from Venezuela to Cuba, as blocked property owned by the four companies.  The United States is continuing to take strong action against the illegitimate regime of former President Nicolas Maduro, to include those that prop up Maduro’s regime and contribute to Venezuela’s humanitarian crisis.

“We continue to target companies that transport Venezuelan oil to Cuba, as they are profiting while the Maduro regime pillages natural resources.  Venezuela’s oil belongs to the Venezuelan people, and should not be used as a bargaining tool to prop up dictators and prolong oppression,” said Treasury Secretary Steven T. Mnuchin.  “Maduro relies on the support he receives from the Cuban military and intelligence services to retain his hold on power because he does not have the support of the Venezuelan people.”

Today’s action further targets Venezuela’s oil sector, which continues to provide a lifeline to the illegitimate regime of former President Maduro:
 

  • Jennifer Navigation Limited is based in Monrovia, Liberia, and is the registered owner of Nedas.
    • Nedas is a crude oil tanker (IMO: 9289166) that delivered crude oil from Venezuela to Cuba during January and March of 2019.
  • Lima Shipping Corporation is based in Monrovia, Liberia, and is the registered owner of New Hellas.
    • New Hellas is a crude oil tanker (IMO: 9221891) that delivered crude oil from Venezuela to Cuba during February and March 2019.
  • Large Range Limited is based in Monrovia, Liberia, and is the registered owner of
    S-Trotter.

    • S-Trotter is an oil products tanker (IMO: 9216547) that delivered oil products from Venezuela to Cuba during February and March 2019.
  • PB Tankers S.P.A. is based in Italy, and is the registered owner of several vessels, including Silver Point, Alba Marina, Gold Point, Ice Point, Indian Point, and Iron Point.
    • Silver Point is a chemical and oil tanker (IMO: 9510462) that delivered oil products from Venezuela to Cuba during March 2019.
    • Alba Marina is a floating storage tanker (IMO: 9151838).
    • Gold Point is a chemical and oil tanker (IMO: 9506693).
    • Ice Point is a chemical and oil tanker (IMO: 9379337).
    • Indian Point is a chemical and oil tanker (IMO: 9379325).
    • Iron Point is a chemical and oil tanker (IMO: 9388209).
       

For information about the methods that Venezuelan senior political figures, their associates, and front persons use to move and hide corrupt proceeds, including how they try to exploit the U.S. financial system and real estate market, please refer to Treasury’s Financial Crimes Enforcement Network (FinCEN) advisories FIN-2017-A006, “Advisory on Widespread Public Corruption in Venezuela,” FIN-2017-A003, “Advisory to Financial Institutions and Real Estate Firms and Professionals” and FIN-2018-A003, “Advisory on Human Rights Abuses Enabled by Corrupt Senior Foreign Political Figures and their Financial Facilitators.”

As a result of today’s action, all property and interests in property of these entities, and of any entities that are owned, directly or indirectly, 50 percent or more by the designated entities, that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC.  OFAC’s regulations generally prohibit all dealings by U.S. persons or within (or transiting) the United States that involve any property or interests in property of blocked or designated persons.

U.S. sanctions need not be permanent; sanctions are intended to bring about a positive change of behavior.  The United States has made clear that the removal of sanctions is available for persons designated under E.O. 13692 or E.O. 13850, both as amended, who take concrete and meaningful actions to restore democratic order, refuse to take part in human rights abuses, speak out against abuses committed by the illegitimate Maduro regime, and combat corruption in Venezuela.

and State Department:

The United States Takes Action To End Cuba’s Malign Influence on Venezuela

Media Note

Office of the Spokesperson

Washington, DC

April 12, 2019


Today, the United States sanctioned four companies for operating in the oil sector of the Venezuelan economy and identified nine vessels as blocked property, pursuant to Executive Order 13850. These actions are a follow-on to the designations announced on April 5, which targeted entities and vessels known to be involved in the transportation of crude oil from Venezuela to Cuba.

Venezuela’s ongoing democratic transition is being impeded by malign actors that continue to prop up the former Maduro regime. Venezuelans lack access to basic necessities, such as water, electricity and adequate health care, while Maduro and his cronies continue to enrich themselves and strip Venezuela of its natural assets.

These actions seek to hinder the regime’s further theft and the predatory influence of Cuba, which takes Venezuela’s oil and pays the regime with security and intelligence forces to keep Nicolas Maduro in power.

The United States will continue to do all we can to stand up against Cuba’s support for the former Maduro regime and its hostility to the Venezuelan people’s aspiration to a peaceful, prosperous, democratic future. Cuba’s intervention only seeks to delay the inevitable—the peaceful transition back to freedom and democracy that is underway in Venezuela, led by the Venezuelan people, Interim President Juan Guaido, and the National Assembly.

issued press releases as well.

Links:

OFAC Notice

Treasury Press Release

State Department Press Release

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