US Commission Issues Report on China-Venezuela Relationship, Sanctions
The U.S.-China Economic and Security Review Commission published a primer this week on China's relationship with Venezuela, including details about China's purchases of Venezuelan oil despite U.S. sanctions. The commission said China has become the "primary destination" for sanctioned Venezuelan…
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oil, and Beijing uses sanctions evasion measures "similar to those it uses to import oil from other sanctioned countries like Iran and Russia, including transshipment, bartering, and 'shadow fleet' tankers with opaque ownership." Although the U.S. has sanctioned Chinese entities for cyber and surveillance operations in Venezuela, the report said designations against Chinese parties under Venezuela-related sanctions programs "had been exceedingly rare" until December, when the Office of Foreign Assets Control targeted four Chinese companies and their vessels for operating in Venezuela's oil sector (see 2512310074).