Venezuela, Cuba-allied companies sanctioned by U.S. for 2019 oil shipments

By Margaret Talev on 4/7/2019
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Despina Adrianna oil tanker. Photo: Hannes van Rign/MarineTraffic.

WASHINGTON (Bloomberg) -- The companies -- linked to the delivery of oil during February and March aboard the tanker Despina Andrianna -- are Ballito Bay Shipping Inc., based in Monrovia, Liberia and ProPer In Management Inc., based in Piraeus, Athens, the U.S. Treasury Department said in a statement. Ballito is the owner of the ship and ProPer is the operator, according to the statement.

Read Venezuela's oil production drops by half during blackouts

Treasury said the sanctions show how the oil industry provides a “lifeline” to Venezuela’s government, led by Maduro, an autocrat under pressure from the U.S. to step down. The U.S. recognizes opposition chief Juan Guaido as the nation’s interim president.

“We are taking action against a vital source of the Maduro regime’s wealth,” V.P. Mike Pence said in prepared remarks on Friday.

The U.S. also identified as “blocked property” 34 ships that belong to the Venezuela state-owned oil company PDVSA.

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