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.
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