Investing.com investing.com 29 Dec, 2020 16:45 am

UAE emerges as hub for companies helping Venezuela avoid U.S. oil sanctions By Reuters

UAE emerges as hub for companies helping Venezuela avoid U.S. oil sanctions By Reuters
Special Report: UAE emerges as hub for companies helping Venezuela avoid U.S. oil sanctions

The company, Muhit Maritime FZE, is one of three UAE-based entities identified by Reuters that have shipped Venezuelan crude and fuel during the second half of this year.The three companies - Muhit Maritime, Issa Shipping FZE and Asia Charm Ltd - did not respond to letters sent to their listed addresses, or to emails sent to their registered email addresses.” The UAE government said in a statement that “a thorough and comprehensive investigation is fully underway into” Muhit Maritime, Issa Shipping and Asia Charm.The authority responsible for the Jebel Ali Free Zone, where Muhit Maritime is based, did not respond to requests for comment.

Between July and August, Muhit Maritime took over management of three other Eurotankers-operated vessels, according to Equasis, a database maintained by a group of national maritime administrations.A Eurotankers representative told Reuters the firm sold two of the tankers in the summer to Muhit Maritime.

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