US Reportedly Sells for Scrap Two Oil Tankers Seized Under Venezuela Sanctions
Two oil tankers previously seized under enforcement actions tied to Venezuela sanctions have reportedly been sold for scrap, according to U.S. government sources.
The United States government is understood to have sold two oil tankers for scrap metal following their seizure in operations tied to Venezuelan sanctions enforcement, according to reports citing U.S. government sources.
The vessels, which were reportedly targeted under international and U.S. restrictive measures against Venezuela's state-backed energy sector, were reportedly decommissioned and sold for dismantling rather than returned to commercial service or auctioned as active tonnage. Further details regarding the buyers, transaction value, and the exact locations of the scrapping operations were not immediately disclosed.
David reports on energy, metals and agricultural markets, tracking how supply signals and safe-haven demand move prices across the commodities complex.
More from David Chen →