UAE emerges as hub for companies helping Venezuela avoid US oil sanctions Toggle share menu Advertisement UAE emerges as hub for companies helping Venezuela avoid US oil sanctions File photo of a worker collecting a crude oil sample at an oil well. (File photo: REUTERS/Carlos Garcia Rawlins) 29 Dec 2020 09:31PM (Updated: 29 Dec 2020 09:46PM) Share this content Bookmark NEW YORK: In June, the US imposed sanctions on half a dozen oil tankers managed by established shipping firms. It was a major escalation of American attempts to choke off Venezuela’s oil trade. Within weeks, a little-known company based in the United Arab Emirates took over management of several tankers that had been shipping Venezuelan oil. The vessels got new names. And then they resumed transporting Venezuelan crude.