US Sanctions 'Warning Shot' Scares High-Profile Greeks Away From Venezuela, Others Remain
International Trade Partner Jonathan Epstein was quoted in Trade Winds about recent US sanctions that have targeted some vessels managed by the Greek firms responsible for over half of the Venezuelan crude exports last month. Washington wants to choke off President Nicolas Maduro's regime by targeting tankers linked to some of the largest Venezuelan crude shippers according to industry databases.
Mr. Epstein described the sanctions as “the first warning shots,” saying those companies would risk having “the rest of their fleets sanctioned” if refusing to withdraw from Venezuela. “It’s quite difficult to see [how] they can do any oil or petroleum trade [there] anymore,” said Mr. Epstein. “Even if it’s just one vessel designated, it’s going to cause a lot of financial harm.”