Shipping companies have become increasingly reluctant to supply Venezuela with vessels to ship its crude oil to foreign markets for fear of losing their insurance, Bloomberg reports, citing unnamed sources in the know. Tighter U.S. sanctions against Caracas have spread to the shipping industry, which faces loss of insurance if it falls under the blows of sanction penalties. As a result of this, Venezuela has resorted to using smaller but more expensive vessels to ship its crude abroad, the Bloomberg sources said. The Trump administration has been…
