TANKER WITH LOAD OF RUSSIAN OIL ALLEGEDLY SHELTERED IN VENEZUELA TO AVOID COURT SEIZURE

The Curacao Chronicle reported allegations on 9^th May that the Isle of Man-flagged crude oil tanker British Cygnet with a cargo of Russian crude, loaded at Primorsk, was diverted to Venezuela waters to avoid seizure, and anchored in the Gulf of Venezuela on May 7^th.  It claims that at least 2 Caribbean courts ordered seizure of PDVSA assets, after a CONOCO Phillips claim for compensation of company’s $2 billion losses inflicted by nationalisation of a project in Venezuela in 2007.

http://curacaochronicle.com/main/bps-aframax-sheltered-in-venezuela-to-avoid-court-seizure/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section View all posts by raytodd2017