US Imposes Sanctions on Chinese Firms and Tankers Tied to Venezuela
The Treasury Department’s Office of Foreign Assets Control announced on Wednesday the addition of four companies linked to Venezuela’s oil industry to its specially designated nationals and blocked persons list. These companies include Zhejiang-based Corniola Ltd., Hong Kong-based Aries Global Investment Ltd., Krape Myrtle Co., and Winky International Ltd. Additionally, four vessels associated with these firms—Della, Nord Star, Rosalind, and Valiant—were also sanctioned.
While the US already maintains a list of vessels and companies under sanctions for their ties to Venezuela’s oil trade, targeting Chinese firms is relatively rare. This move could signal to Beijing to distance itself from the ongoing standoff between the Trump administration and Nicolás Maduro’s regime. Notably, China is Venezuela’s largest customer for oil exports, which account for approximately 95% of the country’s revenue.
“These vessels, some of which are part of the shadow fleet serving Venezuela, continue to provide financial resources that fuel Maduro’s illegitimate narco-terrorist regime,” the Treasury Department stated. “Maduro’s regime increasingly relies on a shadow fleet of vessels worldwide to facilitate sanctionable activities, including sanctions evasion, and to generate revenue for its destabilizing operations.”
Among the vessels identified by the Treasury Department, only the Rosalind has been tracked near Venezuela recently, according to ship-tracking data. It typically engages in short-haul trips known as cabotage, though it’s possible that other vessels have traveled without transmitting their location data.
Rising Pressure
The sanctions are part of President Donald Trump’s broader campaign against Maduro, particularly concerning alleged drug trafficking operations. On Tuesday, the Treasury Department also imposed sanctions on ten individuals and firms based in Iran and Venezuela for their alleged involvement in weapons trading.
In recent weeks, US forces have intercepted two carriers, with a third vessel retreating to the Atlantic Ocean after being pursued. The US has also conducted strikes against suspected drug trafficking boats off the Venezuelan coast and implemented a blockade of sanctioned oil tankers to disrupt the country’s vital energy exports.
On December 30, US Southern Command reported that it struck three additional vessels, sinking them and resulting in the deaths of three individuals. Some individuals on two of the boats jumped overboard and swam away before the follow-up strike occurred. In a notable change from a previous engagement in September, Southern Command stated it had notified the Coast Guard to activate search and rescue operations, although the fate of those who entered the water was not disclosed.
Southern Command also confirmed a separate strike on two more vessels, resulting in five fatalities.
China Ties
China has criticized the US quarantine on Venezuelan ports as “unilateral bullying,” asserting that the ship seizures violate international law. Private Chinese refiners, known as teapots, which account for about one-fifth of the nation’s total refining capacity, have been consistent buyers of Venezuelan crude despite US sanctions.
Although China officially halted imports of Venezuelan crude following US sanctions in 2019, it resumed imports in February 2024. However, through unofficial channels, China, the world’s largest crude importer, never completely ceased its purchases, often disguising Venezuelan oil as bitumen mix, according to traders and third-party data providers.
China’s Foreign Ministry did not respond immediately to a request for comment during a national holiday.
On Monday, Trump confirmed that the US had targeted a facility inside Venezuela, focusing on loading docks used by alleged narco-trafficking boats, marking a significant escalation in military operations. The president has long threatened to extend strikes to Venezuelan facilities on land.
CNN reported that the CIA conducted a drone attack on a dock along the Venezuelan coast, believed to be linked to the gang Tren de Aragua, with no reported casualties according to unnamed sources.
Photograph: Two crude oil tankers near Maracaibo, Zulia state, Venezuela. Photo credit: Alejandro Paredes/AFP/Getty Images
The Treasury Department’s Office of Foreign Assets Control announced on Wednesday the addition of four companies linked to Venezuela’s oil industry to its specially designated nationals and blocked persons list. These companies include Zhejiang-based Corniola Ltd., Hong Kong-based Aries Global Investment Ltd., Krape Myrtle Co., and Winky International Ltd. Additionally, four vessels associated with these firms—Della, Nord Star, Rosalind, and Valiant—were also sanctioned.
While the US already maintains a list of vessels and companies under sanctions for their ties to Venezuela’s oil trade, targeting Chinese firms is relatively rare. This move could signal to Beijing to distance itself from the ongoing standoff between the Trump administration and Nicolás Maduro’s regime. Notably, China is Venezuela’s largest customer for oil exports, which account for approximately 95% of the country’s revenue.
“These vessels, some of which are part of the shadow fleet serving Venezuela, continue to provide financial resources that fuel Maduro’s illegitimate narco-terrorist regime,” the Treasury Department stated. “Maduro’s regime increasingly relies on a shadow fleet of vessels worldwide to facilitate sanctionable activities, including sanctions evasion, and to generate revenue for its destabilizing operations.”
Among the vessels identified by the Treasury Department, only the Rosalind has been tracked near Venezuela recently, according to ship-tracking data. It typically engages in short-haul trips known as cabotage, though it’s possible that other vessels have traveled without transmitting their location data.
Rising Pressure
The sanctions are part of President Donald Trump’s broader campaign against Maduro, particularly concerning alleged drug trafficking operations. On Tuesday, the Treasury Department also imposed sanctions on ten individuals and firms based in Iran and Venezuela for their alleged involvement in weapons trading.
In recent weeks, US forces have intercepted two carriers, with a third vessel retreating to the Atlantic Ocean after being pursued. The US has also conducted strikes against suspected drug trafficking boats off the Venezuelan coast and implemented a blockade of sanctioned oil tankers to disrupt the country’s vital energy exports.
On December 30, US Southern Command reported that it struck three additional vessels, sinking them and resulting in the deaths of three individuals. Some individuals on two of the boats jumped overboard and swam away before the follow-up strike occurred. In a notable change from a previous engagement in September, Southern Command stated it had notified the Coast Guard to activate search and rescue operations, although the fate of those who entered the water was not disclosed.
Southern Command also confirmed a separate strike on two more vessels, resulting in five fatalities.
China Ties
China has criticized the US quarantine on Venezuelan ports as “unilateral bullying,” asserting that the ship seizures violate international law. Private Chinese refiners, known as teapots, which account for about one-fifth of the nation’s total refining capacity, have been consistent buyers of Venezuelan crude despite US sanctions.
Although China officially halted imports of Venezuelan crude following US sanctions in 2019, it resumed imports in February 2024. However, through unofficial channels, China, the world’s largest crude importer, never completely ceased its purchases, often disguising Venezuelan oil as bitumen mix, according to traders and third-party data providers.
China’s Foreign Ministry did not respond immediately to a request for comment during a national holiday.
On Monday, Trump confirmed that the US had targeted a facility inside Venezuela, focusing on loading docks used by alleged narco-trafficking boats, marking a significant escalation in military operations. The president has long threatened to extend strikes to Venezuelan facilities on land.
CNN reported that the CIA conducted a drone attack on a dock along the Venezuelan coast, believed to be linked to the gang Tren de Aragua, with no reported casualties according to unnamed sources.
Photograph: Two crude oil tankers near Maracaibo, Zulia state, Venezuela. Photo credit: Alejandro Paredes/AFP/Getty Images
