The activity shows how the UAE, one of Washington’s closest allies in the Middle East, is a hub for companies helping Venezuela skirt American sanctions. He said the authority is not responsible for policing the activities of companies registered there. Together, those shipments were worth around $40 million based on market prices for Venezuelan oil at the time. But the authority isn’t responsible for monitoring the activities of companies registered in its jurisdiction, he said. Before this year’s shipping sanctions, the bulk of tankers handling Venezuelan crude were owned by established shipping companies.

Source: bd News24 December 30, 2020 03:00 UTC