On 14 July, Lloyds List reported that, until last year, Greek shipowners accounted for 80% of crude lifted from Venezuela, undeterred by US sanctions.  Then, 6 vessel-owning companies connected with 4 prominent owners were briefly blacklisted for breaching US sanctions, forcing all Greek-owned vessels involved in these trades to rethink and recalibrate business plans.  It claims that Cyprus maritime and business sector is being used by shipowners in the EU to register and flag tankers involved in Venezuelan oil trades with tacit acceptance from the Cypriot shipping ministry.

Any modest contributions for my time and ongoing expenses are welcomed!  I have a page where you can do so, and where contributions start as low as $3, at

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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