A network of investigative journalists will present findings today on Venezuela’s so-called “ghost fleets” used to circumvent international sanctions. The Monday briefing will detail connections between these oil operations, Panamanian-flagged vessels, and alleged narcotics trafficking. The event follows a weekend incident where U.S. authorities intercepted a Panamanian-flagged tanker named the Centuries.
Rolando Rodriguez, the associate director of La Prensa newspaper, is a featured speaker. He will be joined by three other panelists specializing in regional corruption and finance. They include Ivan Ruiz from the Latin American Center for Investigative Journalism (CLIP), Roberto Deniz from Armando.Info, and Mercedes De Freitas from Transparency International Venezuela.
The investigation centers on clandestine methods used by the Venezuelan oil industry to export crude despite sweeping U.S. sanctions. Reporters tracked a network of vessels that frequently switch ownership and flags to obscure their movements and cargo origins. Panama’s maritime registry, one of the world’s largest, appears frequently in these documents.
“The shadow fleet represents a parallel financial system for the Venezuelan state,” said Rolando Rodriguez in a pre-briefing statement. [Translated from Spanish]
This system allegedly allows the government of Nicolás Maduro to generate billions in unreported revenue. The proceeds are said to bypass official channels and international oversight completely. The panel will present documents and shipping data supporting these claims.
Interception Highlights Broader Pattern
The interception of the Panamanian-flagged tanker Centuries on Saturday underscores the operational focus on these networks. While U.S. authorities have not released full details, such actions typically involve sanctions enforcement. Vessels caught transporting Venezuelan oil in violation of sanctions can be seized, and their owners face severe penalties.
Experts argue these ghost fleets create significant environmental and safety risks. The ships are often older, poorly maintained, and operate without standard insurance. Their opaque ownership structures complicate accountability for spills or accidents. The use of flags of convenience, like Panama’s, is a central enabling factor.
Corruption watchdogs like Transparency International Venezuela have long warned about the fusion of state resources and criminal enterprises. The upcoming presentation is expected to draw direct links between oil smuggling profits and drug trafficking organizations in the region. This convergence finances repression and undermines democratic institutions.
“We are seeing a criminal ecosystem that sustains the authoritarian model,” Mercedes De Freitas noted. [Translated from Spanish]
Today’s briefing aims to pressure regional governments and international bodies to tighten maritime regulations. Specifically, investigators will call for greater scrutiny of flag registries and corporate veils that facilitate illicit trade. The findings add to a growing body of evidence about sanctions evasion mechanisms.
For Panama, the allegations pose a reputational challenge for its vital shipping registry. The country’s flag flies on thousands of vessels globally. Any proven involvement in illicit schemes could trigger calls for reform from the international maritime community. The government has not yet commented on the latest investigation.