A U.S. corporate intelligence firm has withdrawn its legal claim against a Turkish oil trader, who is facing U.S. sanctions for his alleged involvement in facilitating a "shadow fleet" that transports Venezuelan crude oil. This action by the firm underscores the heightened risks faced by individuals and entities engaging in sanctioned Venezuelan oil trade.
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has been actively targeting individuals and companies operating in Venezuela's oil sector. For instance, in January 2019, OFAC designated Venezuela's state-run oil company, Petroleos de Venezuela, S.A. (PDVSA), under Executive Order (E.O.) 13850, and further action was taken in August 2019 under E.O. 13884. Recent OFAC actions, including those in December, have also targeted PDVSA-linked officials, associates, and vessels. These measures aim to curb the financial resources that fuel what the U.S. government describes as Maduro’s illegitimate regime.
Several companies and associated vessels have been sanctioned for their role in transporting Venezuelan oil. For example, Corniola Limited and Krape Myrtle Co LTD, along with their vessel NORD STAR (IMO: 9323596), were designated for operating in the Venezuelan oil sector. Similarly, Winky International Limited, owner of the ROSALIND (IMO: 9277735) (also known as LUNAR TIDE), and Aries Global Investment LTD, owner of DELLA (IMO: 9227479) and VALIANT (IMO: 9409247), were sanctioned for similar activities. As a result, all property and interests in property of these designated entities that are within the United States or controlled by U.S. persons are blocked and must be reported to OFAC. Additionally, entities owned 50 percent or more by one or more blocked persons are also blocked.
The U.S. has also been actively seizing oil tankers off the coast of Venezuela. In December 2025, former President Donald Trump announced the seizure of a large tanker, which the Venezuelan government denounced as an "act of international piracy." These seizures, such as that of the Motor Tanker Skipper in December, have raised complex legal questions regarding the ownership and fate of the ships and their cargo, with some legal experts indicating that determining ownership could take years and cost the government millions in maintenance and storage fees.
