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Traders rebrand Venezuelan oil as Brazilian to evade U.S. sanctions and cut costs.
Over the past year, traders have rebranded more than $1 billion worth of Venezuelan oil as Brazilian crude to avoid U.S. sanctions and reduce shipping costs.
This practice involves manipulating vessel signals to make it seem the oil originates from Brazil, enabling direct shipments to China.
The U.S. has imposed a 25% tariff on countries buying Venezuelan oil, aiming to curb Venezuela's oil exports.
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Los comerciantes cambian el nombre del petróleo venezolano a brasileño para evadir las sanciones estadounidenses y reducir los costos.