On 13 July, The Record website carried an AP story that claims that new players are willing to brave the heightened risks and help keep Nicolás Maduro’s regime in power, according to a new report from C4ADS and IBI Consultants. The NGO C4ADS identified 214 vessels that visited Venezuela in the year after sanctions were imposed, but not in the previous 12 months. While China, India and Cuba replaced the US as the top destinations for Venezuela’s heavy crude, traffic to these was down by around 20% in the year following sanctions. In total, 9 countries including Bahrain, South Africa and Portugal emerged as new destinations that had not appeared in the previous year.

The report can be found at –










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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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