China-flagged Supertankers Bound for Venezuela Reverse Course Amid US Sanctions
22 hours agoBusiness
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6 SourcesHouston, United States
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China-flagged Supertankers Bound for Venezuela Reverse Course Amid US Sanctions

Two China-flagged supertankers, Xingye and Thousand Sunny, bound for Venezuela to collect debt-repaying crude oil, have reversed course and are heading back to Asia. The vessels had been anchored in the Atlantic for weeks amid the U.S. oil embargo on Venezuela and political turmoil. This development occurs as the U.S. tightens its crackdown on Venezuela's oil exports, including the recent seizure of a Russian-flagged tanker. China is Venezuela's most important oil destination, servicing significant debt through crude shipments.

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