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U.S. sanctions four shipping companies for transporting Venezuelan oil

Additionally, it has identified four vessels as blocked property; the companies involved are Afranav Maritime, Seacomber Ltd, Adamant Maritime and Sanibel Shiptrade.
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The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) on Tuesday (2 June) took action against four companies for operating in the oil sector of the Venezuelan economy. 

Additionally, it has also identified four vessels as blocked property. 

The United States reiterates that the exploitation of Venezuela’s oil assets for the benefit of the illegitimate regime of President Nicolas Maduro is unacceptable, and those that facilitate such activity risk losing access to the U.S. financial system, it explained.

“The illegitimate Maduro regime has enlisted the help of maritime companies and their vessels to continue the exploitation of Venezuela’s natural resources for the regime’s profit,” said Treasury Secretary Steven T. Mnuchin. 

“The United States will continue to target those who support this corrupt regime and contribute to the suffering of the Venezuelan people.”

The OFAC’s designation, pursuant to E.O. 13850, as amended, further targets Venezuela’s oil sector, which continues to provide financial resources to the illegitimate regime of President Maduro:

  • AFRANAV MARITIME LTD is based in the Marshall Islands and is the registered owner of the vessel ATHENS VOYAGER.
    • ATHENS VOYAGER is a Panamanian flagged crude oil tanker (IMO: 9337391) that has continued to lift oil cargoes from Venezuelan ports as recently as mid-February 2020.
  • SEACOMBER LTD is based in Greece and is the registered owner of the vessel CHIOS I.
    • CHIOS I is a Maltese flagged crude oil tanker (IMO: 9792187) that has continued to lift oil cargoes from Venezuelan ports as recently as mid to late February 2020.
  • ADAMANT MARITIME LTD is based in the Marshall Islands and is the registered owner of the vessel SEAHERO.
    • SEAHERO is a Bahamian flagged crude oil tanker (IMO: 9315642) that has continued to lift oil cargoes from Venezuelan ports as recently as late February 2020.
  • SANIBEL SHIPTRADE LTD is based in the Marshall Islands and is the registered owner of the vessel VOYAGER I.
    • VOYAGER I is a Marshall Islands flagged crude oil tanker (IMO 9233789) that has continued to lift oil cargoes from Venezuelan ports as recently as late April 2020.

As a result of the OFAC’s action, all property and interests in property of these entities that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC. 

In addition, any entities that are owned, directly or indirectly, 50 percent or more by the designated entities are also blocked, it said, 

OFAC added that its regulations generally prohibit all dealings by U.S. persons or those within (or transiting) the United States that involve any property or interests in property of blocked or designated persons.


Photo credit: David-Everett
Published: 3 June, 2020

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Legal

Evergreen Marine director questioned, offices searched in Taiwan insider trading probe

Investigators searched 10 locations, including Evergreen Marine’s offices, and summoned Chang, his brother Chang Kuo-cheng and eight others for questioning over alleged breaches of Taiwan’s Securities and Exchange Act.
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July 9, 2026

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Chang Kuo-hua, a board director of Taiwanese shipping giant Evergreen Marine, has been questioned by Taiwanese prosecutors as part of an investigation into suspected insider trading involving shares of Evergreen Marine Corp, according to Taipei News on Tuesday (7 July). 

The Taipei District Prosecutors’ Office on Monday instructed investigators to search 10 locations, including Evergreen Marine’s offices, and summoned Chang, his brother Chang Kuo-cheng, former senior Evergreen executive Ko Li-ching and six others for questioning over alleged breaches of Taiwan’s Securities and Exchange Act.

According to the report, the investigation stems from a shareholder complaint filed in 2024 alleging that Chang purchased approximately 98.6 million Evergreen Marine shares before the company disclosed the sale of about TWD 13 billion (USD 405 million) worth of shares in EVA Airways in 2023.

Later, Taiwanese media reported that Chang Kuo-hua was released on a TWB 120 million bail after he was questioned by prosecutors. 

In a filing to the Taiwan Stock Exchange on 6 July, Evergreen Marine confirmed that the Investigation Bureau of the Ministry of Justice conducted relevant searches and investigations at the company. 

It added that the company is cooperating with the investigation procedures.

“The company is operating normally, and this incident has no significant impact on the Company’s financial condition or business operations,” it said. 

 

Photo credit: Evergreen Marine Corporation
Published: 9 July, 2026

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Sanctions

US reinstates Iran oil sanctions, orders wind-down by 17 July

US has revoked a licence permitting the purchase of Iranian crude oil, petrochemical products and petroleum products, with the restrictions taking effect immediately.
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July 8, 2026

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The US Treasury’s Office of Foreign Assets Control (OFAC) on Tuesday (7 July) revoked a licence that had temporarily authorised transactions involving crude oil, petrochemical products and petroleum products of Iranian origin.

Under the new licence, the purchase of Iranian crude oil, petrochemical products and petroleum products is prohibited with immediate effect.

The latest licence replaces an authorisation issued on 22 June, which had been scheduled to remain in force until 21 August. The previous authorisation permitted the bunkering of vessels engaged in the approved transactions.

Parties that entered into contracts for Iranian oil during the period in which the authorisation was in effect have until 17 July to wind down Iran-related transactions.

 

Photo credit: Zbynek Burival on Unsplash
Published: 8 July, 2026

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Legal

Russian court orders marine fuel supplier Transbunker assets transferred to state

A Moscow court has reportedly ordered the transfer of assets belonging to Russian marine fuel supplier Transbunker to state ownership.
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July 8, 2026

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A Moscow court has reportedly ordered the transfer of assets belonging to Russian marine fuel supplier Transbunker to state ownership.

This comes following a lawsuit alleging the company was illegally controlled through offshore corporate structures, according to The Moscow Times. 

The ruling grants the Russian Prosecutor General’s Office’s claims in full and takes immediate effect. Prosecutors argued that Transbunker, one of Russia’s largest marine fuel suppliers, was subject to restrictions on foreign ownership because the companies within the group qualify as strategic enterprises. 

The case targets Transbunker founders Iosif Sandler and Sergei Pugachev, both Cypriot citizens, along with Transbunker Management CEO Yelena Zavyalova. 

Prosecutors alleged the founders concealed control of the group through offshore entities in jurisdictions including Cyprus and the British Virgin Islands, while transferring profits abroad. Authorities claim RUB 19.3 billion (USD 247 million) has been moved out of Russia since 2020.

Founded in 1991, Transbunker has developed a nationwide marine fuel supply network serving Russian ports in the Baltic, Black Sea and Far East. The group owns fuel terminals in Novorossiysk, Vanino, Sakhalin and the Leningrad region, among other assets.

 

Photo credit: Egor Filin on Unsplash
Published: 8 July, 2026

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