Italian Tanker Owner ‘Shocked and Concerned’ By UNITED STATE Sanctions Placed Against It

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Italian Tanker Owner ‘Shocked and Concerned’ By UNITED STATE Sanctions Placed Against It

Italy- based vessel business PB Tankers is pledging to eliminate permissions put versus it by the UNITED STATE Treasury division over its supposed participation in the Venezuelan oil industry.

PB Tankers S.p.a. was among 4 delivery business called recently by the Department of the Treasury’s Office of Foreign Assets Control (OFAC) as having actually carried oil from Venezuela in offense an exec order authorized by President Donald Trump in November banning united state people and also services from performing organization that profits the Maduro program. Those approved have their economic rate of interests in the United States obstructed.

The Treasury Department particularly called 6 of PB Tankers’ vessels as having actually carried oil on from Venezuela, consisting of one vessel that provided oil items from Venezuela to Cuba throughout March 2019.

In a highly worded declaration published to its site, nevertheless, PB Tankers claimed it was “shocked” to find out of the permissions and also rejected any kind of tasks that might have offense the permissions.

“PB Tankers is shocked and concerned by the action taken by OFAC in adding the company and a number of the company’s vessels to the current SDN (Specially Designated Nationals) list in relation to trade with Venezuela. This has been done without any notification or contact with the Company,” PB Tankers claimed. “As a consequence, we will be taking immediate steps to ensure that both are delisted as a matter of urgency.”

The declaration from PB Tankers appeared to suggested that its participation might be associated with a previous agreement before Venezuelan permissions being implemented.

” PB Tankers, an Italian delivering business with greater than 100 years of solution to the global neighborhood, has actually been taking normal suggestions from both its UK and also United States legal representatives and also has actually been taking all feasible actions to make certain conformity with existing United States permissions consisting of, yet not restricted to, constraint of profession under a solitary time charter agreement which precedes the existing permissions program. PB Tankers does not have any kind of ships in Venezuela, neither will certainly be trading right into or out of Venezuela

It is as a result exceptionally unsatisfactory that the US/OFAC have actually chosen to take such activity versus an Owner that has actually throughout done whatever feasible to abide.

PB Tankers will certainly remain to fulfill its commitments as an issue of global regulation,” PB Tankers’ declaration wrapped up.

In January, the Trump Administration enforced sweeping permissions on Venezuelan state-owned oil company PDVSA, the most difficult united state economic procedure to day versusVenezuelan President Maduro The permissions were the initial targeting Venezuela’s oil industry, the biggest resource of earnings for the OPEC country.

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