US sanctions on Venezuela have steadily increased since 2017, and the latest round targets the maritime industry, discouraging ship owners from doing business in the South American country. According to a report published by Reuters, several companies that provide vessels with certifications and insurance have withdrawn their services from tankers involved in the Venezuelan oil trade.
Washington’s economic sanctions have decimated Venezuela’s oil industry, bringing oil exports to their lowest levels in nearly 80 years. The latest measures targeting the maritime industry are driving away what few ship owners still carry Venezuelan oil.
Classification societies provide ships with certification that is needed for the vessel to be insured. The US is pressuring classification societies to withdraw certification from ships that have violated US sanctions.
The pressure is working; multiple classification societies have withdrawn their services from tankers operating in Venezuela. The services can only be restored when the US removes the vessels from a list of sanctioned entities after the ship owners agree to stop carrying Venezuelan oil, according to the Reuters report.
Insurers are also under pressure to withdraw insurance from ships operating in Venezuela. This puts ships at the mercy of the US since uninsured vessels are a liability and usually not allowed into port, leaving them stranded at sea.
Elliot Abrams, President Trump’s envoy to Venezuela, spoke with Reuters about the new sanctions. “There are people who don’t cooperate … We’ll go after the ship, the ship owner, the ship captain,” Abrams said.
Iran has been selling gasoline to Venezuela, a move that has drawn the ire of Washington. But with Iran also under heavy US sanctions, the Islamic Republic has nothing to lose, and with Venezuela purchasing the gas with gold, the two countries will likely continue to be trading partners.
As in most cases, US sanctions have a devastating effect on Venezuela’s civilian population. A report from the Center for Economic and Policy Research released in April 2019 determined the sanctions played a part in the death of 40,000 Venezuelans from 2017 – 2018.
10 thoughts on “US Targets Maritime Industry in Economic War on Venezuela”
As they interfere in the affairs of Venezuela and cripple the nation for decades since Bush and probably beyond….they use the results and proclaim to their base ” aha see what get when don’t have unfettered capitalism”
The thugs pompass, hook, abrams are actively playing in their sanction sand box-this is what they do, but, but, as pompass frequently says, the us is a force for good!!???
More like an evil empire than a force for good.
“in April 2019 determined the sanctions played a part in the death of 40,000 Venezuelans from 2017 – 2018.”
If we had killed 40,000 in that same period by “bombing the shit” out of them, we would have called that an illegal war of aggression. I’m always so happy that Trump hasn’t started any new shooting wars. And don’t forget Syria. We’ll probably top that 40,000 in short order.
Americans don’t care whether their nefarious deeds are called illegal wars of aggression. Look what they got away with in Iraq.
Americans standby and watch this lawlessness like sheep in a pen. Really it doesn’t reflect well on what society has become. Not only complacent to the suffering but stupid enough to believe the drivel coming out of people like E Abrams.
To start with — all international bodies are on the take, and the one publishing alarming statistics about projected deaths is no different. Just a means of alarming public opinion about horrors of the regime and justifying “something has to be done” by the ever watchful US, leading the “civilized” West in defense of civilization.
Getting sick of those.
As for the “going after any human being that defies” — is a classic. It is a proof if we ever needed one — that we are led by pagans and barbarians. Thousands of years humanity built and destroyed and rebuilt societies on the premise of justice and law. It took even longer to develop laws among nations to benefit everyone.
We are now in the clutches of civilization wrecking elite — convinced that only PAGAN ETHOS is for winners. Mutual respect, mutual benefit, abhorrence of lies and murderous force is for losers.
We might find out soon enough just how far are these pagans prepared to go. And as many countries in the world are less and less dependent on US for trade and development — this decoupling will hopefully ease the murderous urges by people like Abrams.
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