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US Lifts Some Venezuela-related Sanctions
Team Sea and Coast | 07/07/2020

The United States on Thursday lifted sanctions on Marshall Islands-based Delos Voyager Shipping Ltd and Greece-based Romina Maritime Co Inc that had been imposed last month over accusations the companies worked in the Venezuelan oil sector.

The U.S. Treasury Department's movement lifted Venezuela-related sanctions on four companies, including Marshall-Islands based Adamant Maritime Ltd and Sanibel Shiptrade Ltd, as well as on four vessels.

The move, which follows the delisting last month of other Greece-and Marshall Islands-based shipping firms, evacuated the rest of the Greece-based companies blacklisted in June for transporting Venezuelan oil from the U.S. Office of Foreign Assets Control (OFAC) Specially Designated Nationals list.

In a statement, a Treasury representative said the delisted entities had resolved to cease association in the Venezuelan oil sector as long as President Nicolas Maduro remains in power. Washington is endeavoring to oust Maduro, who is accused of apparatus his 2018 re-arrangement.

"The essential target for the imposition of sanctions under OFAC's various authorities is to propel conduct change," the spokesperson said. "The entities and vessels delisted today acceptably showed that they have stopped partaking in sanctionable activities."

U.S. officials met representatives of Greece-based shipping companies in the relatively recent past to discuss Venezuela-related sanctions, which have increase since early June, according to two sources acquainted with the talks.

The vessels removed from the U.S. blacklist on Thursday are the Seahero, Voyager I, Delos Voyager and Euroforce crude oil tankers, which were totally associated with shipping companies delisted on Thursday.

Thenamaris, manager of the Seahero vessel in the interest of the vessel's owner Adamant Maritime, said in a statement that there had been full support with U.S. authorities, including that the ship the executives company was "grasping a firm course of action restricting any carriage of crude oil from Venezuela for the vessels under its administration for as long as U.S. sanctions against Venezuela stay set up."

NGM Energy, manager of the Voyager I, said it had "executed improved consistence controls" and would upgrade coordination with significant authorities to reduce future sanctions risk.

Delos Voyager Shipping Ltd and Romina Maritime Co Inc, hit with sanctions by the U.S. in June, had been given until July 21 to slow down activities through a general license that was renounced on Thursday as the companies were removed from the U.S. blacklist.

Washington in January 2019 saw Venezuelan government official Juan Guaido as the OPEC country's rightful pioneer and has straightened out sanctions and discretionary pressure in the outcome of Maduro's 2018 re-arrangement.

Maduro remains in power, upheld by Venezuela's military as well as Russia, China and Cuba.

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