VENEZUELA CRUDE EXPORTS GOING ‘DARK’ AS US IMPOSES SANCTIONS ON ROSNEFT SUBSIDIARY

On 19 February, Lloyds List reported that now-sanctioned Rosneft Trading had taken over most of the marketing of Venezuelan crude over the last 9 months with oil supplied in return for loan repayments, and subsequent sales brokered with India and China.  The article reports on what has been done to hide or disguise shipments, and says that Rosneft and PdVSA had established hub and spoke operations via Malaysia and Singapore to distribute crude, and briefly had floating storage at anchorage off Lome, in West Africa, over January which was then transferred to China-bound very large crude carriers.  It says that vessels chartered by Rosneft have been borrowing the subterfuge shipping tactics that Iranian sellers and buyers use to disguise the destination and origin of sanctioned crude, masking conventional tanker-tracking using AIS technology.

https://lloydslist.maritimeintelligence.informa.com/LL1131092/Venezuela-crude-exports-going-dark-as-US-imposes-sanctions-on-Rosneft

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

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