The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on four companies involved in Venezuela’s oil sector and identified four associated oil tankers as blocked property. The department stated that these vessels, some operating as part of a shadow fleet, continue to generate financial resources for Nicolás Maduro’s government.
According to the Treasury, Maduro’s administration relies increasingly on a global network of vessels to conduct activities that evade sanctions and support operations deemed destabilizing by the United States. The action is intended to signal ongoing risks for those participating in the Venezuelan oil trade.
“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,” said Secretary of the Treasury Scott Bessent. “The Treasury Department will continue to implement President Trump’s campaign of pressure on Maduro’s regime.”
OFAC had previously designated Venezuela’s state-run oil company, Petroleos de Venezuela, S.A. (PDVSA), under Executive Order 13850 in January 2019 and expanded restrictions in August 2019 under Executive Order 13884. Recent actions also targeted PDVSA-linked officials and vessels earlier in December.
The entities sanctioned today include Corniola Limited and Krape Myrtle Co LTD—owners and operators of the NORD STAR tanker; Winky International Limited—owner of ROSALIND (also known as LUNAR TIDE); and Aries Global Investment LTD—owner of DELLA and VALIANT tankers. These companies were designated for their roles in transporting Venezuelan oil.
With these measures, all property and interests belonging to the designated entities or blocked persons within U.S. jurisdiction are frozen and must be reported to OFAC. Any entities owned at least 50 percent by one or more blocked persons are also subject to these restrictions. Unless authorized by OFAC, U.S. persons are generally prohibited from engaging in transactions involving such property.
Violations may result in civil or criminal penalties for both U.S. and foreign individuals or organizations. OFAC enforces these regulations strictly, with additional details available through its Economic Sanctions Enforcement Guidelines.
OFAC emphasized that its sanction authority includes both designating individuals or entities as well as removing them from lists when warranted by law, aiming ultimately for positive behavioral change rather than punishment.
For further information about those designated or vessels identified as blocked property today, readers can refer to the official Treasury announcement.
