Venezuelan Regime Resumes Direct Oil Shipments to China

The Venezuelan regime has resumed direct shipments of oil to China after the Trump administration imposed economic sanctions against Venezuela’s oil sector, sending the trade underground for over a year.

The Venezuelan regime has resumed direct shipments of oil to China after the Trump administration imposed economic sanctions against Venezuela’s oil sector, sending the trade underground for over a year.

According to a Bloomberg Wednesday report, data from Refinitiv Eikon and documents from Venezuela’s state oil company PDVSA revealed that the first tanker to resume transport of Venezuelan crude directly to China was the Kyoto, which loaded 1.8 million barrels of heavy crude at Venezuela’s Jose port in late August.

At least one other tanker named the Warrior King is discharging Venezuelan crude at China’s Buyaquan port, while two vessels that are owned by Chinese state company China National Petroleum loaded oil in Venezuela in November.

The report pointed out that after the US sanctions, PDVSA’s customers boosted shipments to Malaysia where transfers of cargoes between vessels at sea have allowed most of Venezuela’s crude to continue flowing to China after changing hands and using trade intermediaries.


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