US pressure on the shipping sector to halt trading with Venezuela has made several classification bureaus terminate agreements with tanker vessels. Insurance companies and flag states are also tightening requirements.
Another two Greek shipping companies will now no longer carry Venezuelan oil. This comes after pressure from the US, which is trying to choke Venezuela's oil export in an attempt to target the country's president, Nicolás Maduro.
Several oil tanker ships headed for Venezuela have turned around and are now instead sailing away from the country, writes Reuters. This happens after the US allegedly considered blacklisting more ships for transporting oil from the country.
The sanctions imposed on Venezuela could have far-reaching consequences if all the tanker ships that have called at one of the country's major ports in the past six months have to be pulled from the market, show numbers from Clarksons.
Four tanker ships with ties to Greece have been blacklisted by the US for sailing with oil from Venezuela. According to a ship database, the ships are ultimately controlled by several well-known Greek shipowners.
With new sanctions on Venezuela's state-owned oil major PDVSA, the Trump administration deals its toughest blow yet to Venezuelan leader Nicolas Maduro, essentially blocking the country from exporting crude oil to the US.