Polish Firm Orlen Charters Supertanker for Venezuelan Oil Amid Eased US Sanctions

The move follows similar actions by other companies, with the US threatening to reimpose sanctions if Venezuela does not make democratic progress.

Polish oil and gas firm Orlen has chartered a supertanker to load Venezuelan oil for China, following a temporary easing of US sanctions on Venezuela.
The Very Large Crude Carrier (VLCC) Olympic Trophy, chartered for $13 million, is scheduled to load in early December.
Other companies such as Vitol and Trafigura have also chartered vessels to load Venezuelan crude for China.
The US Treasury Department last month lifted sanctions on Venezuela's oil production and exports until April, prompting early deals by trading houses buying cargoes from intermediaries registered as customers of state company PDVSA.
Washington has stated that it wants to see progress towards a transparent presidential election in Venezuela and a release of political prisoners by November 30, or it could reimpose the sanctions.