Venezuelan oil shipments to China grow amid intensifying pressure from US

According to Bloomberg calculations based on preliminary data on ship movements, Venezuela has increased oil exports to China to the highest level in almost two years amid growing pressure exerted on the country by the United States.

The agency's experts estimate that supplies will surge to 400,000 barrels per day in March. They also note that China, the world's largest importer of oil, has always been one of the main buyers of crude from countries that have fallen under the United States' restrictions.

Currently, the Donald Trump administration is putting pressure on Venezuela on two fronts. First, the US is threatening to impose 25% tariffs on imports of all goods from countries buying Venezuelan oil. Second, the US has revoked Chevron's license to produce oil in Venezuela and sell it, setting a deadline of May 27 for the oil company to complete its operations in the South American country.

Nevertheless, as Bloomberg notes, Petroleos de Venezuela continues to supply oil to China by using little-known companies as intermediaries. They, in turn, avoid detection through various methods.