The Treasury Department’s Office of Foreign Assets Control on Friday sanctioned two more shipping companies and their tankers for transporting Venezuelan oil to Cuba.
The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) on Friday took aim with sanctions at additional shipping companies and vessels that have been used to transport oil in support of the Venezuelan government.
The newly sanctioned entities, which were added to OFAC’s Specially Designated Nationals (SDN) List, are Marshall Islands-based Monsoon Navigation Corp. and its crude oil tanker Ocean Elegance and Liberia-based Serenity Maritime Ltd. and its oil tanker Leon Dias. Both vessels were identified as transporting Venezuelan oil to Cuba from late 2018 to March of this year.
“The U.S. will take further action if Cuba continues to receive Venezuelan oil in exchange for military support,” warned Treasury Secretary Steven Mnuchin (pictured above) in a statement.
U.S. persons are generally prohibited from doing business with persons or entities placed on OFAC’s SDN list.