US Sanctions Chinese Firms, Tankers Over Venezuela Oil Links

World
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Moneycontrol•01-01-2026, 16:47
US Sanctions Chinese Firms, Tankers Over Venezuela Oil Links
- •US sanctioned four Chinese/Hong Kong companies (Corniola Ltd., Aries Global Investment Ltd., Krape Myrtle Co, Winky International Ltd.) and four tankers (Della, Nord Star, Rosalind, Valiant) for Venezuela oil trade.
- •Action is part of Trump administration's pressure campaign against Nicolás Maduro's "illegitimate narco-terrorist regime" and its "shadow fleet."
- •Targeting Chinese firms is a rare move, signaling a warning to Beijing, as China is Venezuela's largest oil customer.
- •US military actions escalated, including intercepting carriers, striking drug trafficking boats, and a facility inside Venezuela.
- •China criticizes US actions as "unilateral bullying" but continues unofficial Venezuelan oil purchases.
Why It Matters: US escalates pressure on Venezuela by sanctioning Chinese entities, warning Beijing and increasing military actions.
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