Iran sends the biggest fleet of oil tankers to Venezuela.
Image Credit: Reuters/Miraflores Palace
In constant defiance of US sanctions, Iran sent a large fleet of oil tankers of around ten ships. This is considered the largest fleet ever to be sent to Venezuela.
Venezuela is facing fuel shortages, and constantly have blackouts. Due to US sanctions, Venezuela’s economy collapsed, and their currency, the Bolivar, has nearly no value.
For more information regarding the oil trade between Iran and Venezuela, both sanctioned by the United States, check the following links.
According to a Reuters report, the Venezuelan oil company PDVSA, is selling crude oil to the state-owned National Iranian Oil Company (NIOC). In an attempt to avoid detection and eventual sanctions, apart from turning off their transponders, shipping companies are changing their oil tankers’s names after leaving Venezuela. Some of the oil tankers that are transporting oil to Venezuela are the Fortune, Forest and Faxon. Between May and June, these three oil tankers along with two others delivered unknown quantities of crude oil to Venezuela.
Back in August, United States managed to intercept 1.116 million barrels of gasoline from Iran to Venezuela. The oil was being carried by four ships.
Over the last four years, under Donald Trump’s Presidency, the United States heavily sanctioned both countries, crippling their economies and even encouraging Iran to follow on nuclear enrichment.