Special Report: How China got shipments of Venezuelan oil despite U.S. sanctions

FILE PHOTO: Supporters of Venezuela's President Nicolas Maduro hold anti-Trump banners during a rally against the U.S. sanctions on Venezuela, in Caracas Venezuela, August 10, 2019. REUTERS/Manaure Quintero/File Photo

But China never stopped buying. Crude from Petroleos de Venezuela SA, or PDVSA, kept arriving at Chinese ports with the help of a Switzerland-based unit of Rosneft, Russia’s state-owned oil company, and a roundabout delivery method that made it appear as if the oil’s origin was Malaysia, Reuters has found.

The shipping method - involving the transfer of oil between tanker ships at sea – has for months been under scrutiny by the Trump administration. Washington in February slapped sanctions on Rosneft Trading SA, the Geneva-based subsidiary of Rosneft , which it alleges was helping Venezuela to export its oil using so-called ship-to-ship transfers to mask the true origin of the crude. Rosneft denied wrongdoing.

Oil analysts since last year have said Venezuelan oil was making its way to China by way of STS transfers. This account is the first to reveal the extent of those shipments and demonstrate how systematic the tactic has been. Reuters also reviewed internal PDVSA documents that showed the Rosneft unit was involved in moving the oil.

Alireza Miryousefi, spokesman for Iran’s mission to the United Nations in New York, said in a statement “how we sell or export our oil is no one’s business.” He said U.S. sanctions on Iran’s oil exports are “illegal.”STS transfers typically are used for legitimate purposes - such as offloading oil from deep-water drilling ships or pumping oil from large tankers onto smaller vessels that can navigate narrow or shallow waterways.

Michelle Bockmann, markets editor and analyst at Lloyd’s List, a shipping trade publication, said the relabeling was highly uncommon. With the exception of Iran, Bockmann said she could not recall any other instance of crude changing identities in this way. Among the tactics employed by Rosneft Trading were STS transfers, U.S. officials allege. By using one ship to haul crude out of Venezuela, then a second to deliver it to China, Rosneft Trading attempted to blur the chain of ownership and disguise the oil’s provenance, Abrams, the State Department’s special representative for Venezuela, told Reuters, without providing further proof of Rosneft’s intentions.

China is not our friend or a trading partner and the sooner by American comes back the stronger the US will get

Two countries with the same political thinking. Normal this happen. But, both can't talking about foreign policy of the United States. Hypocritical dictators.

Their streets are lined with wealth and equality as promised.

specialreports So what?! Unilateral sanctions are unlawful & no one is obligated to apply them. Only UN Security Council can impose sanctions, & even it can only sanction specific individuals, never whole countries: Art. 39, Chapter 7, UN Charter. Please, have some common sense, some Humanity.

specialreports Despicable America.

specialreports So, in other words, the elected government of Venezuela is doing its job to protect and defend Venezuelan sovereignty against illegal unilateral U.S. sanctions and predations enacted by convicted career criminals like Elliot Abrams. Thanks for the update.

specialreports Says the guy who armed Contra terrorists and killed almost 100,000 people in Latin America. Elliott Abrahams should be testifying in Hauge rather than making hypocritical claims about Venezuelan oil

specialreports Everyone now to the wishes of the USA. Until the USA finds its soul I commend anyone who defies them.

specialreports I would laugh, but...

specialreports But why should Venezuela be sanctioned

specialreports Fix your tax evasion problem first.

specialreports Send the Military..

specialreports The Venezuelan oil route to India is also very interesting.

specialreports GarryGrinberg

marketst0day specialreports RogueNation China. USA caught napping? SecPompeo GOP USTreasury

specialreports Cheating is in the DNA of China CCP.

specialreports In the end,someone needed to earn a buck!

specialreports So what.

specialreports Till China eats it :D

specialreports so? Good for them

specialreports torrance racist lady full video

specialreports 在疫情期间对弱小国家制裁限制是极其不人道的

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