Treasury sanctions Venezuelan oil companies and shadow fleet tankers

The U.S. Treasury Department on Wednesday sanctioned four companies operating in Venezuela’s oil sector and identified four oil tankers as blocked assets, saying the move targeted oil traders involved in alleged sanctions evasion that helps finance Nicolas Maduro’s regime.

The Treasury said the ships, some described as part of a “ghost fleet” serving Venezuela, “continue to provide financial resources that fuel Maduro’s illegitimate narco-terrorist regime” in Tuesday’s press release.

“President Trump has been clear: We will not allow the illegitimate Maduro regime to profit from exporting oil while it floods the United States with deadly drugs,” Treasury Secretary Scott Bessent said. “The Treasury Department will continue to implement President Trump’s pressure campaign on the Maduro regime,” he added.

Treasury said the sanctions block the ownership and interests in property of designated entities under U.S. jurisdiction and generally prohibit Americans from engaging in transactions involving them.

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Venezuelan President Nicolas Maduro attends a meeting at the National Assembly in Caracas, August 22, 2025. (Juan Barreto/AFP via Getty Images)

This action follows US measures against the Venezuelan state-owned oil company Petroleos de Venezuela, SA (PDVSA).

OFAC designated PDVSA in January 2019 under Executive Order 13850, and President Trump subsequently took additional action to block PDVSA in August 2019 under Executive Order 13884, Treasury said.

Treasury said Wednesday’s decision also complements actions announced Dec. 11 and 19 targeting PDVSA-related officials, associates and vessels.

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An oil tanker is seen anchored in Lake Maracaibo, Venezuela, after loading crude oil at the Bajo Grande refinery port. (Jose Bula Urrutia/UCG/Universal Images Group/Getty Images)

OFAC designated Corniola Limited and Krape Myrtle Co LTD and identified the oil tanker NORD STAR as blocked property. OFAC also designated Winky International Limited and identified ROSALIND, also known as LUNAR TIDE, as a blocked property. OFAC designated Aries Global Investment LTD and identified the tankers DELLA and VALIANT as blocked property, Treasury said.

Treasury said blocked goods under U.S. jurisdiction must be reported to OFAC and warned that violations of U.S. sanctions could result in civil or criminal penalties.

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Treasury Secretary Scott Bessent announced additional sanctions against Maduro-linked actors on Wednesday. (Stefani Reynolds/Bloomberg via Getty Images)

Treasury said the goal of the sanctions is to bring about a positive change in behavior, emphasizing that there is a formal process for requesting delisting from an OFAC list, in accordance with U.S. law.