WASHINGTON \u2014 Today, the U.S. Department of the Treasury\u2019s Office of Foreign Assets Control (OFAC) sanctioned four companies for operating in Venezuela\u2019s oil sector and identified four associated oil tankers as blocked property. \u00a0These vessels, some of which are part of the shadow fleet serving Venezuela, continue to provide financial resources that fuel Maduro\u2019s illegitimate narco-terrorist regime.\u00a0 Maduro\u2019s regime increasingly depends on a shadow fleet of worldwide vessels to facilitate sanctionable activity, including sanctions evasion, and to generate revenue for its destabilizing operations.\u00a0Today\u2019s action further signals that those involved in the Venezuelan oil trade continue to face significant sanctions risks.<\/p>\n
\u201cPresident Trump has been clear: We will not allow the illegitimate Maduro regime to profit from exporting oil while it floods the United States with deadly drugs,\u201d\u00a0said Secretary of the Treasury Scott Bessent. \u201cThe Treasury Department will continue to implement President Trump\u2019s campaign of pressure on Maduro\u2019s regime.\u201d\u00a0<\/p>\n
NO LONGER FUELING THE MADURO REGIME\u00a0<\/p>\n
On January 28, 2019, OFAC designated Venezuela\u2019s state-run oil company, Petroleos de Venezuela, S.A. (PDVSA), pursuant to Executive Order (E.O.) 13850 for operating in the oil sector of the Venezuelan economy, and on August 5, 2019, President Trump took additional action to block PDVSA pursuant to E.O. 13884.\u00a0Today\u2019s sanctions complement other recent OFAC actions taken against the Maduro regime, including sanctions against PDVSA-linked officials, associates, and vessels on December 11<\/a> and December 19<\/a>.\u00a0 The following entities are being sanctioned today, and four vessels are being blocked for being property in which these entities have an interest:<\/p>\n NORD STAR (IMO:\u00a09323596), whose registered owner is Corniola\u00a0Limited and whose ship manager and operator is Krape Myrtle Co LTD, has transported Venezuelan oil.\u00a0OFAC is designating Corniola Limited\u00a0and Krape Myrtle Co LTD\u00a0pursuant to E.O.\u00a013850 for operating in the oil sector of the Venezuelan economy and is identifying NORD STARas blocked property in which Corniola Limited\u00a0and Krape Myrtle Co LTD\u00a0have an interest.ROSALIND a.k.a. LUNAR TIDE\u00a0(IMO: 9277735),\u00a0whose registered owner is Winky International Limited, has transported Venezuelan oil.\u00a0OFAC is designating Winky International Limited\u00a0pursuant to E.O.\u00a013850 for operating in the oil sector of the Venezuelan economy and is identifying ROSALIND\u00a0as blocked property in which Winky International Limited has an interest.DELLA\u00a0(IMO: 9227479), whose registered owner is Aries Global Investment LTD,\u00a0has transported Venezuelan oil.\u00a0 OFAC is designating Aries Global Investment LTD\u00a0pursuant to E.O.\u00a013850 for operating in the oil sector of the Venezuelan economy and is identifying DELLA\u00a0and VALIANT\u00a0(IMO: 9409247), another oil tanker, as blocked property in which Aries Global Investment LTD has an interest.SANCTIONS IMPLICATIONS<\/p>\n As a result of today\u2019s action, all property and interests in property of the designated or blocked person described above that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC. \u00a0In addition, any entities that are owned, directly or indirectly, individually or in the aggregate, 50 percent or more by one or more blocked persons are also blocked. \u00a0Unless authorized by a general or specific license issued by OFAC, or exempt, OFAC\u2019s regulations generally prohibit all transactions by U.S. persons or within (or transiting) the United States that involve any property or interests in property of blocked persons.\u00a0<\/p>\n Violations of U.S. sanctions may result in the imposition of civil or criminal penalties on U.S. and foreign persons. \u00a0OFAC may impose civil penalties for sanctions violations on a strict liability basis.\u00a0OFAC\u2019s\u00a0Economic Sanctions Enforcement Guidelines<\/a>\u00a0provide more information regarding OFAC\u2019s enforcement of U.S. economic sanctions. \u00a0In addition, financial institutions and other persons may risk exposure to sanctions for engaging in certain transactions or activities involving designated or otherwise blocked persons. \u00a0The prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any designated or blocked person, or the receipt of any contribution or provision of funds, goods, or services from any such person.\u00a0<\/p>\n The power and integrity of OFAC sanctions derive not only from OFAC\u2019s ability to designate and add persons to the Specially Designated Nationals and Blocked Persons List (SDN List), but also from its willingness to remove persons from the SDN List consistent with the law. \u00a0The ultimate goal of sanctions is not to punish, but to bring about a positive change in behavior. For information concerning the process for seeking removal from an OFAC list, including the SDN List, or to submit a request, please refer to OFAC\u2019s guidance on Filing a Petition for Removal from an OFAC List<\/a>.<\/p>\n