US blacklists oil company in Cyprus

An oil company registered in Cyprus has been blacklisted by US officials who blocked a total of four vessels for transporting Venezuelan oil to Cuba.

According to Reuters, Caroil Transport Marine Ltd was among a number of companies accused of continuing “to circumvent sanctions by receiving oil shipments from Venezuela.”

CTM, a private Cuban company that was incorporated in Cyprus in 1992 based in Limassol, operates three vessels which have also been designated as operating in the oil sector of the Venezuelan economy pursuant to Executive Order 13850.

The three vessels, Carlota C, Sandino, and Petion have all been linked to Cuba and state-owned Venezuelan oil.

Carlota C is described as a chemical and products tanker that recently delivered Venezuelan petroleum products, including gasoline, to Cuba. The latest activity according to the US documents was as recent as last month.

A similar tanker, Sandino is also said to have delivered Venezuelan oil products to Cuba recently, while Petion loaded crude oil in late May 2019.

Three other companies and another vessel have also been included on the blacklist.

[Kathimerini Cyprus]