The U.S. Friday added two companies which ship crude oil from Venezuela to Cuba, along with 34 ships, to a financial sanctions list aimed at increasing pressure on Venezuelan President Nicolas Maduro to step down and turn over power to his opposition.
A Treasury Department statement announcing the designation identified one of the companies as Ballito Bay Shipping, based in Monrovia, Liberia, Kallanish Energy finds. It is the registered owner of the tanker Despina Andrianna, which has been used to ship Venezuelan crude to Cuba.
The other company is ProPer Management, based in Athens, Greece, and the operator of the Despina Andrianna, Treasury said.
Cuba is a major importer of crude oil from Venezuela and, in exchange, sends political advisers, intelligence and military officials and medical professionals who help the Maduro government stay in power, Treasury said.
“Cuba has been an underlying force fueling Venezuela’s descent into crisis. Treasury is taking action against vessels and entities transporting oil, providing a lifeline to keep the illegitimate Maduro regime afloat,” said Treasury Secretary Steven T. Mnuchin, in a statement. “Cuba continues to profit from, and prop up, the illegitimate Maduro regime through oil-for-repression schemes as they attempt to keep Maduro in power.”
Treasury’s action prohibits any U.S. citizen or entity from transactions involving the companies, which is intended to reduce their access to the global financial system.
Treasury also listed 34 ships that it said are assets of the Venezuelan state-owned oil company Pdvsa.
The U.S. and roughly 50 other countries say Maduro’s re-election last year was not legitimate and have recognized the head of the National Assembly as the interim president of Venezuela.
The U.S. imposed sanctions on Venezuela’s oil industry in January to cut off the government’s most important source of revenue.
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