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Tag Archives: crude oil

U.S. imposes sanctions on Chinese company for buying Iranian oil

PortandTerminal.com, July 23, 2019 The dangerous geopolitical chess game in the Persian Gulf just got even more complicated. For the first time, the U.S. has imposed sanctions on a Chinese company for purchasing Iranian crude oil. WASHINGTON – The Trump administration said late on Monday it was targeting the Chinese company Zhuhai Zhenrong as part of its “maximum pressure” campaign …

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$477 million worth of Venezuelan oil stuck at sea waiting for buyers

PortandTerminal.com, February 27, 2019 HOUSTON/PUNTO FIJO – A fleet of 16 tankers holding 8.36 million barrels of Venezuelan crude are floating off the country’s coast as the nation scrambles to find buyers for its oil following new U.S. sanctions in January.  At today’s prices, that oil is worth $477 million dollars. Last month, the Trump administration imposed wide-ranging sanctions on …

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