Sanctioned Naphtha Tanker Enters Venezuelan Waters While Others Reroute

A sanctioned tanker carrying some 300,000 barrels of naphtha from Russia entered Venezuelan waters late on Thursday, while three others also under sanctions either stopped navigation or began redirecting course in the Atlantic Ocean, ship tracking data showed, a sign of last-minute decisions by ship owners amid U.S. President Donald Trump's "blockade" of all oil tankers under sanctions bound for the OPEC country.

Trump on Tuesday ordered a "blockade" of all sanctioned oil tankers to and from the South American country, a move that ramps up pressure on Venezuelan president Nicolas Maduro by targeting the country's main source of income. Unsanctioned vessels began setting sail on Wednesday from Venezuelan waters after a week's pause, helping drain the country's mounting crude stocks.

Gambia-flagged sanctioned medium tanker Hyperion was anchored on Friday near Amuay Bay on Venezuela's western coast, according to LSEG ship tracking data. It loaded near Murmansk in Russia in late November.

Meanwhile, Angola-flagged Agate, another sanctioned medium tanker that loaded in Russia and had been sailing towards the Caribbean, was seen redirecting on Friday.

Two other vessels, Sierra Leone-flagged Sofos and Sea Maverick, which were loaded in Russia and were expected in Venezuela, were barely moving on Friday near Guyanese waters. They were both signaling Panama as their destination, ship tracking data showed, but appeared in Venezuelan and Russian schedules as naphtha cargoes for the South American country.

Oman-flagged Garnet, also sanctioned and loaded in Russia, continued on its track, signaling the Caribbean as its destination on Friday.

Benin-flagged sanctioned tanker Boltaris, which was carrying some 300,000 barrels of Russian naphtha bound for Venezuela, made a u-turn earlier this month and was heading for Europe without having discharged, according to LSEG vessel monitoring data.

Two unsanctioned very large crude carriers (VLCC) and an Aframax set sail for China on Thursday from Venezuela, according to sources familiar with Venezuela's oil export operations, marking only the second, third and fourth tankers unrelated to Chevron to depart the country since the U.S. seized a ship carrying Venezuelan oil last week. U.S. Chevron, which has continued to ship Venezuelan crude under a U.S. authorization, exported a crude cargo on Thursday bound for the U.S., LSEG data showed.

Venezuela's government called Trump's blockade a "grotesque threat" in a statement on Tuesday, saying it violates international law, free commerce and the right of free navigation.

(Reuters)