Iran Bucks US Sanctions to Export Venezuelan Crude

What's the Empire going to do? Sanction it?

After defying U.S. sanctions by shipping a cargo of oil condensate to Venezuela just last week, Iran is using the same ship to help the Latin American country export its crude.

The Iran-flagged supertanker Honey, also known as Horse, is loading Venezuela’s top exported grade Merey 16 at Venezuela’s government-controlled port of Jose, according to a shipping report seen by Bloomberg. The shipments give some respite to the nation’s hobbled oil industry, as most shipowners avoid doing business with the country for fear of sanctions.

The vessel, which just discharged 2 million barrels of Iranian condensate , turned off its satellite signal to avoid detection after the U.S. was able to intercept 1.116 million barrels of gasoline going to Venezuela in August. Bloomberg reported that the ship was discharging its contents in Venezuela last week though ship-tracking signals still show the ship off the coast of Dubai.

Venezuela, owner of the world’s largest oil reserves, has been struggling to find ships willing to risk sanctions after the Trump administration announced sanctions on six vessels and its shipowners for transporting its crude. The Treasury Department eventually removed the vessels from the sanctions list without making a formal explanation but the U.S. has pursued foreign vessels carrying product to Venezuela around the world and seized more than a million barrels of gasoline while in transit. [Turned in by the owner, rather than captured on the high seas.]

The cargo on board of the Horse is expected to be sold in Asia, the main destination of Venezuelan crude.

PDVSA declined to comment. Venezuela’s information ministry and the U.S. State Department didn’t return an email seeking comment.

In addition to supplying condensate, Tehran has supplied 1.5 million barrels of gasoline and food. Venezuelan President Nicolas Maduro is also weighing the purchase of Iranian missiles. Caracas has supplied gold as payment for the assistance.

Source: Bloomberg

  1. Rowdy-Yates says

    In addition to supplying condensate, Tehran has supplied 1.5 million barrels of gasoline and food. Venezuelan President Nicolas Maduro is also weighing the purchase of Iranian missiles. Caracas has supplied gold as payment for the assistance.
    Finally Iran is becoming the Persian power that it once was. It may detonate a nuclear bomb as a test this year using fissile material. if it does it would do so with China and Russia as alllies

    1. Lamumba says

      When Iran says having nuclear weapons are forbidden then that is exactly what they mean. What good will the possession of nuclear weapons do for them. The squatter entity has hundreds but they will never experience safety nor security. Iran and Russia are moral giants when compared to USA.

      1. Rowdy-Yates says

        The moment Iran detonates a nuke the geopolitics changes. No matter how hard the US and NATO may protest the Persian Gulf would have a nuclear armed Iran. the race to create nuclear fusion & nuclear energy is only between a small group of nations. Iran wants to be part of that. Missile tech is needed for launching satellites. there is lot more to the new economy of 5-G and AI

      2. Rowdy-Yates says

        Nuclear weapons give power to that nations voice in the UN. It is a weapon of politics and deterrence and not really meant to be used. It changes its arms industry and its scientific community where nuclear technology and its research centers become magnates for technology from around the world
        the power of Pakistan is magnified by being the only Muslim nation to have the nuclear weapon.
        also Iran cannot give up the nuke. When Libya gave up the nuke Qaddafi was killed and the government in Tripoli was overthrown by the US. Disarming Iran is the first step to overthrow that government. Tehran has stated that.

        1. Southern says

          Credit is also used as a weapon.

          1. Kapricorn4 says

            Credit is a euphemism for debt. A bank credit line granted by a bank to a corporation allows the corporation to draw on the credit line (of say one million dollars) when necessary and then pay it back as soon as they are in funds.

            It is different than a loan, that is granted for a definite time period on which interest is payable on the whole amount of money.

        2. David Bedford says

          It’s against their religion

          1. Rowdy-Yates says

            It’s against their religion

            I agree. Israel is against every religion and their own faith was snuffed out by Rome

  2. Southern says

    People in the US are not aware how much the rest of the world is paying for fuel, I doubt they would stand for it.

    1. Kapricorn4 says

      The rest of the world is paying more for fuel, because their governments apply draconian taxes on its purchase. It has nothing to do with the cost of production.

Leave A Reply

Your email address will not be published.