Commodities & Energy

Reuters reveals Venezuelan shipping magnate faces U.S. sanctions probe

Reuters reveals Venezuelan shipping magnate faces U.S. sanctions probe

Reuters broke the news that the United States is investigating a Venezuelan shipping magnate for possibly violating U.S. sanctions by bringing fuel to gasoline-short Venezuela. The probe focuses on a cargo that Wilmer Ruperti, a former tanker captain who is now a wealthy businessman, sent in April from Trinidad and Tobago. Ruperti has been close to Venezuela’s ruling Socialists since the 1999-2013 rule of Hugo Chavez, winning lucrative contracts with state oil company PDVSA.