New US sanctions on ships and freight companies that transport Venezuelan oil to Cuba will exacerbate the island’s chronic fuel shortages and power outages, two Caribbean diplomats in Havana tell Argus . The sanctions mainly target the Liberian-flagged Despina Andrianna Panamax tanker that routinely shuttles Venezuelan crude to Cuba, as well as the vessel´s obscure Liberian owner Ballito Bay Shipping and Greek operator ProPer In Management. The US Treasury also levied sanctions on 33 other vessels, mostly tugs, owned by Venezuelan national oil company PdV. One of the Caribbean diplomats described the new US sanctions as “a damaging blow to Cuba’s energy sector and the national economy.” “There is no immediate prospect of significant supplies to make up for the already reduced volumes supplied from and sourced by the Venezuelan company.” Rolling blackouts and the fuel shortage “will get worse” if the sanctions take effect, the diplomat said. The […]