17 April 2019






2 mins

Italian tanker company PB Tankers is vowing to fight sanctions placed against it by the U.S. Treasury department over its alleged involvement in the Venezuelan oil sector. PB Tankers S.p.a. was one of four shipping companies named last week by the Department of the Treasury’s Office of Foreign Assets Control (OFAC) as having transported oil from Venezuela in violation an executive order signed by President Donald Trump in November prohibiting U.S. citizens and businesses from conducting business that benefits the Maduro regime. Those sanctioned have their financial interests in the United States blocked.

The Treasury Department specifically named six of PB Tankers’ tankers as having transported oil on from Venezuela, including one tanker that delivered oil products from Venezuela to Cuba during March 2019.

In a strongly worded statement posted to its website, PB Tankers said it was “shocked” to learn of the sanctions and denied any activities that may have violation the sanctions. PB Tankers is shocked and concerned by the action taken by OFAC (US Office of Foreign Assets Control) in adding the company and a number of the company’s vessels to the current SDN (Specially Designated Nationals) list in relation to trade with Venezuela. This has been done without any notification or contact with the Company, who only became aware through the media. As a consequence, we will be taking immediate steps to ensure that both are delisted as a matter of urgency.

PB Tankers, an Italian shipping company with more than 100 years of service to the international community, has been taking regular advice from both its UK and US lawyers and has been diligent in taking all possible steps to ensure compliance with current US sanctions including, but not limited to, possible restriction of trade under a single time charter contract which predates the current sanctions regime. PB Tankers does not have any ships in Venezuela, nor will be trading into or out of Venezuela.

Images are of tanker IVORY POINT berthed at Valletta, Malta back to 10th April, 2010, Second one is the tanker IVORY POINT again this time berthed at Oil Tanking Jetty 4 at Marsaxlokk Harbour, Malta and the sts operation of IRON POINT with the Libyan state owned tanker AL AGAILA back to 26th January 2011 offshore Malta.

Photos by Capt. Lawrence Dalli. Do not use these images without my permission. © All rights reserved. Malta Ship Photos & Action Photos –

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© All rights reserved. Malta Ship Photos & Action Photos –