April 12, 2019

OFAC designates four companies and nine vessels for supporting the export of crude oil from Venezuela

Four companies and nine vessels were designated today by the Office of Foreign Assets Control of the US Department of the Treasury pursuant to Executive Order 13850, as amended. The companies, Jennifer Navigation Limited, Lima Shipping Corporation, Large Range Limited, and PB Tankers S.P.A., are registered in Liberia and Italy, and are the owners of the nine vessels designated for transporting crude oil and other oil products from Venezuela to Cuba, and for storing chemicals and oil products from Venezuela.  In announcing the new sanctions, Treasury Secretary Steven Mnuchin stated that the US government continues “to target companies that transport Venezuelan oil to Cuba, as they are profiting while the Maduro regime pillages natural resources.” 

As a result of the designations, US property interests of the designated entities and the assets in which they own 50% or more are blocked.

US Treasury Dept. press release