Venezuela Is Still Exporting Oil To China Despite Sanctions

Venezuela is still sending oil to China despite stifling U.S. sanctions, Bloomberg has reported, citing shipping data from Kpler. As of this Monday, the data suggested, there were 3.3 million barrels of Venezuelan crude waiting to unload at Chinese ports and another 5 million barrels en route to the port of Qingdao. “Most of the oil reaches China after a simple ship-to-ship transfer, often with both transponders online,” TankerTrackers.com co-founder Samir Madani told Oilprice.com. The STS, Madani said, most often took place in the…