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US sells oil seized from Iran to Venezuela for $40 million

Summary:
Imagine if China did this to Taiwan.The United States said Thursday that it had sold Iranian oil seized on its way to Venezuela for more than million.Washington announced in August that it had confiscated 1.1 million barrels of petroleum from four tankers en route between the two countries, which are both under US sanctions."We estimate that in excess of million will be recouped by the United States related to the sale of petroleum from those four vessels," Michael Sherwin, the acting US attorney for the District of Columbia, told reporters by telephoneYahoo NewsUS sells oil seized from Iran to Venezuela for million

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 Imagine if China did this to Taiwan.


The United States said Thursday that it had sold Iranian oil seized on its way to Venezuela for more than $40 million.

Washington announced in August that it had confiscated 1.1 million barrels of petroleum from four tankers en route between the two countries, which are both under US sanctions.

"We estimate that in excess of $40 million will be recouped by the United States related to the sale of petroleum from those four vessels," Michael Sherwin, the acting US attorney for the District of Columbia, told reporters by telephone

Yahoo News

US sells oil seized from Iran to Venezuela for $40 million

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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