Venezuelan Defense & Oil Sectors – OFAC Sanctions

May 10, 2019:  The US Treasury identified the Venezuelan defense sector as a subject to its sanctions.  The May 10 designations were in response to SEBIN’s illegal arrests of National Assembly members and intend to target those actors who have had a hand in the repressive Maduro defense and intelligence sector.  SEBIN is a is an internal security force subordinate to the Vice President of Venezuela.  The Treasury department includes Venezuela’s oil sector as one of these actors, due to it being critical to the survival of the illegitimate regime of former President Maduro.  The newly designated companies and vessels are as follows:

  • Monsoon Navigation Corporation; based in Majuro, Marshall Islands.  It is also the registered owner of the vessel, Ocean Elegance, a crude oil tanker (IMO: 9038749) that delivered crude oil from Venezuela to Cuba from late 2018 through March 2019.
  • Serenity Maritime Limited; based in Monrovia, Liberia.  This company is also the registered owner of the vessel, Leon Dias, a chemical and oil tanker (IMO: 9396385) that delivered crude oil from Venezuela to Cuba from late 2018 through March 2019.

For OFAC’s release on these designees, click here.

 

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