They are being referred to as ‘zombie tankers’, Chinese-recruited vessels that reportedly conduct surreptitious transactions with Beijing that ‘cock a snook’ at the sanctions imposed by America’s on-the-way-out President Donald Trump to ship oil to China and provide a welcome measure of financial relief for a beleaguered Venezuelan economy.
The welcome Chinese outlet has been by far the biggest factor in the creation of a significant oil export surge for Venezuela in November, where nearly all of the oil exported by South American Republic, reportedly totalling in excess of more than half a million barrels a day, ended up. The country’s overall crude output reportedly stood at 484,000 barrels per day, though meager by the accustomed Venezuelan standards, is actually an increase of what previously, had reportedly been close to 400,000 barrels. Even the end of November figure represented a 48% year-on-year drop.
Washington’s response was swift. It moved to impose sanctions on the Chinese firm National Electronics Import & Export Corporation, a state-owned firm that represents the country’s defence production industries in overseas sales, focussing primarily on defensive electronics. Washington accused National Electronics of supporting the incumbent administration in Caracas and by extension, undermining democracy.
