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Venezuela to Contract for 2 Iran-built Oil Tankers in Challenge to US Sanctions

An oil tanker sold to Venezuela off the coast of Bushehr port in southern Iran on June 8, 2022. (Reuters)
An oil tanker sold to Venezuela off the coast of Bushehr port in southern Iran on June 8, 2022. (Reuters)
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Venezuela to Contract for 2 Iran-built Oil Tankers in Challenge to US Sanctions

An oil tanker sold to Venezuela off the coast of Bushehr port in southern Iran on June 8, 2022. (Reuters)
An oil tanker sold to Venezuela off the coast of Bushehr port in southern Iran on June 8, 2022. (Reuters)

Venezuela will contract with an Iranian shipyard to build two oil tankers under an existing construction agreement bedeviled by payment delays and difficulties with needed certifications, Reuters cited people familiar with the matter as saying.

This is seen as a challenge to the US sanctions.

It comes weeks after the visit of Iranian Foreign Minister Hossein Amirabdollahian to Caracas where he held a meeting with Venezuelan President Nicolas Maduro.

Mehr News Agency reported that the two parties "emphasized the strengthening and monitoring of projects and accelerating their implementation, as well as vigilance in defending their national interests against external pressures," a statement from the Iranian Foreign Ministry said.

Moreover, Maduro signed a 20-year agreement to expand ties in the defense, oil, and petrochemical industries during his visit to Tehran in June.

Venezuela’s state-run energy firm PDVSA since last year has redoubled efforts to buy and lease oil tankers to rebuild its own fleet.

Its maritime operations have suffered from a long-standing lack of capital and US sanctions that have made it difficult to obtain insurance and receive classifications essential to navigate in international waters.

The two new Aframax tankers, to be named India Urquia and India Mara, will cost 31.66 million euros ($33.77 million) each, an internal PDVSA document detailing the proposed agreement showed.

The vessels will be built by Iran Marine Industrial Company (SADRA) at its Bushehr shipyard, which built two previous vessels for PDVSA, the Aframaxes Arita and Anita, that can each carry 500,000-800,000 barrels of oil.

“(Construction of) the India Urquia must start soon,” one of the sources said.

State firms from Iran and Venezuela will start in the coming weeks a 100-day revamp of the South American nation's largest refining complex to restore its crude distillation capacity, four sources close to the plan told Reuters last month.

Indian Oil Minister Hardeep Singh Puri also said India will consider buying oil from Iran and Venezuela if sanctions are lifted.

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Taiwan President Warns of China's 'Infiltration' Effort, Vows Counter Measures

Taiwan President-elect Lai Ching-te, of Democratic Progressive Party's (DPP), holds a press conference, following the victory in the presidential elections, in Taipei, Taiwan January 13, 2024. (Reuters)
Taiwan President-elect Lai Ching-te, of Democratic Progressive Party's (DPP), holds a press conference, following the victory in the presidential elections, in Taipei, Taiwan January 13, 2024. (Reuters)
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Taiwan President Warns of China's 'Infiltration' Effort, Vows Counter Measures

Taiwan President-elect Lai Ching-te, of Democratic Progressive Party's (DPP), holds a press conference, following the victory in the presidential elections, in Taipei, Taiwan January 13, 2024. (Reuters)
Taiwan President-elect Lai Ching-te, of Democratic Progressive Party's (DPP), holds a press conference, following the victory in the presidential elections, in Taipei, Taiwan January 13, 2024. (Reuters)

Taiwan President Lai Ching-te said on Thursday China has deepened its influence campaigns and infiltration against the democratic island, pledging measures to tackle Beijing's efforts to "absorb" Taiwan.
Taiwan has accused China of stepping up military drills, trade sanctions and influence campaigns against the island in recent years to force the island to accept Chinese sovereignty claims, Reuters said.
Speaking to reporters after holding a meeting with senior security officials, Lai said Beijing had used Taiwan's democracy to "absorb" various members of society including organized crime groups, media personalities, and current and former military and police officers.
"They (China) are carrying out activities such as division, destruction, and subversion from within us," Lai told a press briefing broadcast live from the presidential office.
China's Taiwan Affairs Office did not immediately respond to a request for comment.
Citing government data, Lai said 64 people were charged for Chinese espionage
last year, three times more than in 2021. He said the majority of them were current or former military officials.
"Many are worried that our country, hard-earned freedom and democracy and prosperity will be lost bit by bit due to these influence campaigns and manipulation," Lai said.
By making these efforts, Lai said China constituted what Taiwan's Anti-Infiltration Act defined as "foreign hostile forces".
The president proposed 17 legal and economic countermeasures, including the strict review of Taiwan visits or residency applications by Chinese citizens, and proposals to resume the work of the military court.
Lai also said his government would make "necessary adjustments" to the flows of money, people and technology across the strait. He did not elaborate.
In addition, he said the government would issue "reminders" to Taiwanese actors and singers performing in China on their "statements and actions", a response to what Taipei sees as an ongoing Chinese campaign to pressure pop stars to make pro-Beijing comments.
"We have no choice but to take more active actions."
China claims Taiwan as its own territory and has never renounced the use of force to bring the island under its control.
Taiwan's government rejects Beijing's sovereignty claims and says only the island's people can decide their future.