icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Iran and Venezuela swap jet fuel & gasoline cargoes

Iran and Venezuela swap jet fuel & gasoline cargoes
Venezuela and Iran, both sanctioned by the United States, have found a way to help each other as shipping companies stay away from dealings with the two oil-producing countries for fear of running afoul of the US.

Venezuela is shipping jet fuel to Iran in the same tankers in which Iran delivers gasoline and spare parts for the refineries in Venezuela, Reuters reported on Wednesday, citing sources familiar with the matter and documents of Venezuela’s state oil firm PDVSA it had seen.

Venezuela, which has an excess of jet fuel with flights grounded in the country over the past year due to the coronavirus, is sending aviation fuel to Iran, after having received gasoline from the Islamic Republic, according to Reuters’ sources.

Despite holding the world’s largest crude oil reserves, Venezuela has been suffering from acute gasoline shortages in recent years, as a result of lower production of crude and years of mismanagement at refineries, as well as US sanctions, which have cut off gasoline imports from the United States.

Also on rt.com US sells over a million barrels of seized Iranian fuel headed for Venezuela

Iran explained last year the tanker traffic between Venezuela and Iran with the shipment of “a cargo of mangos and pineapples to Iran as part of “win-win commercial relations,” Reuters reports.

Neither of the two countries has revealed details about the fuel swap that has been going on, but Iran has been caught red-handed shipping gasoline to Venezuela.

In August last year, the US Administration said it had seized the fuel cargo of four vessels, alleging that the fuel came from Iran and was going to Venezuela. The 1.116 million barrels of petroleum on the four tankers were seized and sent to US custody.

Earlier this year, US Department of Justice said it had completed the sale of the 1.116 million barrels of gasoline that Iran tried to ship to Venezuela last year.

Also on rt.com Iran sends BIGGEST EVER fleet of oil tankers to Venezuela, defying US sanctions – report

The US Administration is now looking to detain another tanker it believes is part of an Iranian scheme to covertly ship Iranian oil to a foreign customer.

The Department of Justice alleges that the Islamic Revolutionary Guard Corps (IRGC) has created a scheme to covertly ship Iranian oil to a customer outside Iran. The supertanker, the Achilleas, is carrying 2 million barrels of what the United States believes is Iranian crude oil.

This article was originally published on Oilprice.com

Podcasts