Treasury Targets Oil Traders Engaged in Sanctions Evasion for Maduro Regime

WASHINGTON — The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned four companies for operating in Venezuela’s oil sector and identified four associated oil tankers as blocked property. 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. Maduro’s regime increasingly depends on a shadow fleet of worldwide vessels to facilitate sanctionable activity, including sanctions evasion, and to generate revenue for its destabilizing operations. Today’s action further signals that those involved in the Venezuelan oil trade continue to face significant sanctions risks. “President Trump has been clear: We will not allow the illegitimate Maduro regime to profit from exporting oil while it floods the United States with deadly drugs,” said Secretary of the Treasury Scott Bessent. “The Treasury Department will continue to implement President Trump’s campaign of pressure on Maduro’s regime.” NO LONGER FUELING THE MADURO REGIME On January 28, 2019, OFAC designated Venezuela’s state-run oil company, Petroleos de Venezuela, S.A. (PDVSA), pursuant to Executive Order (E.O.) 13850 for operating in the oil sector of the Venezuelan economy, and on August 5, 2019, President Trump took additional action to block PDVSA pursuant to E.O. 13884. Today’s sanctions complement other recent OFAC actions taken against the Maduro regime, including sanctions against PDVSA-linked officials, associates, and vessels on December 11 and December 19. The following entities are being sanctioned today, and four vessels are being blocked for being property in which these entities have an interest: NORD STAR (IMO: 9323596), whose registered owner is Corniola Limited and whose ship manager and operator is Krape Myrtle Co LTD, has transported Venezuelan oil. OFAC is designating Corniola Limited and Krape Myrtle Co LTD pursuant to E.O. 13850 for operating in the oil sector of the Venezuelan economy and is identifying NORD STARas blocked property in which Corniola Limited and Krape Myrtle Co LTD have an interest. ROSALIND a.k.a. LUNAR TIDE (IMO: 9277735), whose registered owner is Winky International Limited, has transported Venezuelan oil. OFAC is designating Winky International Limited pursuant to E.O. 13850 for operating in the oil sector of the Venezuelan economy and is identifying ROSALIND as blocked property in which Winky International Limited has an interest. DELLA (IMO: 9227479), whose registered owner is Aries Global Investment LTD, has transported Venezuelan oil. OFAC is designating Aries Global Investment LTD pursuant to E.O. 13850 for operating in the oil sector of the Venezuelan economy and is identifying DELLA and VALIANT (IMO: 9409247), another oil tanker, as blocked property in which Aries Global Investment LTD has an interest. SANCTIONS IMPLICATIONS As a result of today’s action, all property and interests in property of the designated or blocked person described above that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC. In addition, any entities that are owned, directly or indirectly, individually or in the aggregate, 50 percent or more by one or more blocked persons are also blocked. Unless authorized by a general or specific license issued by OFAC, or exempt, OFAC’s regulations generally prohibit all transactions by U.S. persons or within (or transiting) the United States that involve any property or interests in property of blocked persons. Violations of U.S. sanctions may result in the imposition of civil or criminal penalties on U.S. and foreign persons. OFAC may impose civil penalties for sanctions violations on a strict liability basis. OFAC’s Economic Sanctions Enforcement Guidelines provide more information regarding OFAC’s enforcement of U.S. economic sanctions. In addition, financial institutions and other persons may risk exposure to sanctions for engaging in certain transactions or activities involving designated or otherwise blocked persons. The prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any designated or blocked person, or the receipt of any contribution or provision of funds, goods, or services from any such person. The power and integrity of OFAC sanctions derive not only from OFAC’s ability to designate and add persons to the Specially Designated Nationals and Blocked Persons List (SDN List), but also from its willingness to remove persons from the SDN List consistent with the law. The ultimate goal of sanctions is not to punish, but to bring about a positive change in behavior. Specially Designated Nationals List Update The following entities have been added to OFAC's SDN List: ARIES GLOBAL INVESTMENT LTD (a.k.a. ARIES GLOBAL INVESTMENT LIMITED), Room 2611, 26th Floor, Southeast Technology R&D Center, 438, Jincheng Lu, Xiaoshan Qu, Hangzhou, Zhejiang, China; Rm A 20/F ZJ 300, 300 LOCKHART RD, Wan Chai, Hong Kong, China; Identification Number IMO 0052971; Registration Number 76957722 (Hong Kong) issued 19 Aug 2024 [VENEZUELA-EO13850]. CORNIOLA LIMITED (a.k.a. CORNIOLA LTD), 149, Donggang Jiedao, Putuo Qu, Zhoushan, Zhejiang 316100, China; Rm 909 G 9/F Hunghom Coml Ctr Twr A, 39 Ma Tau Wai Rd, Hunghom, Kowloon, Hong Kong, China; Identification Number IMO 6434228; Registration Number 75612503 (Hong Kong) issued 14 Aug 2023 [VENEZUELA-EO13850]. KRAPE MYRTLE CO LTD, 149 Donggang Jiedao, Putuo Qu, Zhoushan, Zhejiang 316100, China; Rm D5 5/F King Yip Fty Bldg, 59 King Yip St, Kwun Tong, Kowloon, Hong Kong, China; Identification Number IMO 6342210; Registration Number 74094750 (Hong Kong) issued 31 May 2022 [VENEZUELA-EO13850]. WINKY INTERNATIONAL LIMITED, 14th Floor, Guangdong Investment Tower, 148 Connaught Road Central, Hong Kong, China; Majuro, Ajeltake Island 96960, Marshall Islands; Organization Established Date 01 Nov 2024; Registration Number 128617 (Marshall Islands) [VENEZUELA-EO13850]. The following vessels have been added to OFAC's SDN List: DELLA (VRUB7) Crude Oil Tanker Hong Kong flag; Other Vessel Flag China; Vessel Year of Build 2001; Vessel Registration Identification IMO 9227479; MMSI 477714500 (vessel) [VENEZUELA-EO13850] (Linked To: ARIES GLOBAL INVESTMENT LTD). NORD STAR (3E7463) Crude Oil Tanker Panama flag; Vessel Year of Build 2006; Vessel Registration Identification IMO 9323596; MMSI 352003296 (vessel) [VENEZUELA-EO13850] (Linked To: KRAPE MYRTLE CO LTD; Linked To: CORNIOLA LIMITED). ROSALIND (a.k.a. LUNAR TIDE) Oil Products Tanker Guinea flag; Vessel Year of Build 2004; Vessel Registration Identification IMO 9277735 (vessel) [VENEZUELA-EO13850] (Linked To: WINKY INTERNATIONAL LIMITED). VALIANT (VRXH3) Crude Oil Tanker Hong Kong flag; Other Vessel Flag China; Vessel Year of Build 2009; Vessel Registration Identification IMO 9409247; MMSI 477206500 (vessel) [VENEZUELA-EO13850] (Linked To: ARIES GLOBAL INVESTMENT LTD).