A report from C4ADS and IBI Consultants sets out to provide a comprehensive analysis of maritime shipping activity in Venezuelan waters since OFAC designated oil company PDVSA under Executive Order 13850 in January 2019.  Before January 2019, Venezuela’s oil trade accounted for more than 95% of the country’s export revenue and provided the country with an important source of foreign currency. Now, using an analysis of AIS data from maritime analytics platform Windward and corporate network data from IHS Markit, the report highlights trends in tanker vessel activity such as port calls and dark voyages in order to highlight the ways EO 13850 disrupted shipping networks active in the Venezuelan oil sector.  It finds 3 key trends in the year after the designation of PDVSA –

  • port calls in the Venezuelan EEZ decreased by 46%, but dark voyages only decreased by 2%;
  • China, India and Cuba became top destinations for tanker vessels leaving Venezuelan ports – though in the year after sanctions, vessels leaving Venezuelan ports directly visited over 40 international destinations; and
  • while many shipping companies withdrew from Venezuelan oil exports, others entered or increased their involvement in the Venezuelan oil sector – but over 100 tanker vessels made their first port call in Venezuelan waters after sanctions were imposed on Venezuela’s oil sector.



If you would like to say thanks by making a small contribution, in case I need to upgrade or replace my computers and other paraphernalia, I have a page at “Buy me a Coffee” –


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

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s