The United States on Wednesday imposed sanctions on four companies it said were operating in Venezuela’s oil sector as well as associated oil tankers, as President Donald Trump's administration increases pressure on Venezuelan President Nicolas Maduro.
The US Treasury Department, in a statement, said it imposed sanctions on oil traders engaged in sanctions evasion for Maduro's government. Among the targets were four vessels, some of which the Treasury accused of being part of the so-called "shadow fleet."
"Today’s action further signals that those involved in the Venezuelan oil trade continue to face significant sanctions risks," the Treasury said in the statement.
"President 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," Treasury Secretary Scott Bessent added.
"The Treasury Department will continue to implement President Trump’s campaign of pressure on Maduro’s regime," Bessent continued.
The vessels sanctioned include NORD STAR, owned by Corniola Limited, and managed and operated by Krape Myrtle Co LTD, which transported Venezuelan oil.
Another vessel, ROSALIND, also known as LUNAR TIDE, registered to Winky International Limited, and DELLA, owned by Aries Global Investment LTD, also transported Venezuelan oil.
Trump continues economic action against Maduro
The sanctions mark the latest action in Trump's pressure campaign on Maduro, which has included a ramped-up military presence in the region and more than two dozen military strikes on vessels allegedly trafficking drugs in the Pacific Ocean and Caribbean Sea near the South American nation.
This month, Trump announced a blockade of all sanctioned vessels going in or out of Venezuelan waters as part of a strategy to pressure Maduro. The US move has cut oil exports this month to about half of their November level.