Pursuant to Executive Order 13850, as amended, the Office of Foreign Assets Control of the US Department of the Treasury has designated four entities connected with Venezuela’s oil sector and the mechanisms used to transport Venezuelan oil to Cuba. The designated entities are Cyprus-based Caroil Transport Marine Ltd, Panama-based Trocana World Inc., Tovase Development Corp, and Bluelane Overseas SA and five vessels operated by those companies.
As a result of the designations, US property of these entities is blocked, and transactions by US persons involving the property of blocked or designated persons are generally prohibited.
In addition to making the designations described above, OFAC delisted several companies and vessels, in recognition of a demonstrated change in behavior such as discontinuing business with Cubametales, the Cuban state-run oil import and export company, which was designated by OFAC in July 2019 pursuant to Executive Order 13850, as amended.