Iranian tanker fleet loads fuel and sails to Venezuela port

Iranian tanker fleet loads fuel and sails to Venezuela port

Reuters reported that according to data from financial analysis platform Refinitiv Eikon and Venezuelan officials, a fuel-laden fleet of five oil tankers is heading for Venezuela. The main ship of the fleet will arrive at a port of the Venezuelan National Oil Company under the escort of the military on Sunday.

According to calculations by the Iranian and Venezuelan governments, sources and tanker tracking website TankerTrackers.com, Iran is supplying Venezuela with 1.53 million barrels of gasoline and spare parts. This move has been criticized by the US authorities because both countries have been sanctioned.

The Trump administration said earlier this month that it was considering possible measures for these fuel deliveries, but did not provide specific details.

Venezuela urgently needs gasoline, because Venezuela's refining network can only operate at around 10% of its 1.3 million barrels of daily production this year, forcing Venezuela to rely on imports when US sanctions restrict the sources and types of fuels available to it.