US Sanctions

Regional News • Middle East
Special Report: UAE shipping firm is helping Venezuela avoid U.S. oil sanctions

Tankers managed by firms based in the United Arab Emirates have transported millions of barrels of oil produced by state-run Petroleos de Venezuela SA, or PDVSA, since June, according to the internal documents and a publicly available shipping database. A shipping document shows that on July 31, the newly rebranded ships under a newly rebranded firm set sail carrying some 650,000 barrels of Venezuelan Boscan crude after a ship-to-ship transfer from the Alasfal, a Crude Oil Tanker flagged in Liberia, off Venezuela's coast.

The three supertankers - the Kelly, Marbella and Rene - each transported nearly 2 million barrels of Venezuelan crude and fuel in the first half of 2020 after coming under Issa's management, a batch of internal PDVSA shipping documents show.

Regional News • Americas • South America
Venezuela tries to get $1 billion in gold from it's reserves stored with the Bank of England

The central bank of Venezuela has filed a lawsuit against the Bank of England in order to get its hands on gold reserves worth over $1 billion in order to combat the Covid-19 pandemic in the country. Venezuela wants to sell the gold reserves and then transfer the proceeds to the United Nations Development Programme in order to circumvent the US sanctions and get the country funds in order to fight the Covid-19 pandemic.