Venezuela Resumes Direct Oil Exports To China

According to World Wide Web, British Reuters news agency reported on the 27th that Venezuela has resumed its direct oil export to China based on tracking data from financial market data provider Refinitiv Ikon and internal documents of the Venezuelan State Oil Company (PDVSA).
According to Reuters, the Chinese state-owned China National Petroleum Corporation (CNPC) and its subsidiary China National Petroleum Corporation (PetroChina) have long been major customers of the Venezuelan National Petroleum Corporation (PDVSA). In August 2019, the aforementioned companies stopped loading crude oil and fuel at Venezuelan ports. Previously, the United States expanded sanctions on Venezuela’s National Petroleum Corporation to extend the scope to any company that trades with this state-owned enterprise.
Reuters said that the sanctions were part of the Trump administration’s attempt to overthrow Venezuelan President Maduro, but they failed to completely prevent the South American country’s oil exports. The clients of Venezuela’s Petroleum Corporation have increased their exports to Malaysia. In Malaysia, most of Venezuelan crude oil can continue to flow to China after transferring hands and passing through trade intermediaries through the transfer of maritime cargo between ships.
The report mentioned that the spokesperson of the US Treasury Department also declared on the 25th local time that those involved in Venezuelan oil industry activities may face sanctions risks.
Since 2019, the United States has continued to put pressure on Venezuela to prohibit individuals or legal persons from other countries from importing Venezuelan crude oil. In April of this year, the United States dispatched warships to Venezuela’s territorial waters under the pretext of “drug control.” The Venezuelan government said that the United States was imposing a naval blockade and military threats against Venezuela. On June 2 this year, the United States announced sanctions on four international shipping companies that transport Venezuelan crude oil. Venezuelan Foreign Minister Arreaza said on social media Twitter that the US move was a crime against humanity. In addition, the Venezuelan government has repeatedly called for the removal of economic sanctions against Venezuela during the epidemic, and emphasized that Venezuela, as a sovereign country, has the right to conduct free trade with other countries and should not be subject to outside interference.