US sanctions target Greek tankers loaded with Venezuelan crude

U.S. sanctions had a huge impact on crude-tanker supply and spot rates in 2019, when the tankers of China’s COSCO (Dalian) were sidelined after carrying Iranian crude.

Will it happen again in 2020?

The Treasury Department’s Office of Foreign Assets Control (OFAC) announced Tuesday that it had sanctioned four tankers and their operating companies because they loaded crude oil for export in Venezuela.

These include two very large crude carriers (VLCCs; tankers that carry 2 million barrels of crude...