Venezuela Ships First Crude Cargo to Israel as Oil Exports Reopen photo

Venezuela is set to send its first shipment of crude oil to Israel in years. This comes as the country's oil exports begin to increase following the capture of President Nicolas Maduro.

The oil is being shipped to Bazan Group, Israel's largest oil processor. Sources familiar with the deal asked to remain anonymous since the details are not publicly available.

Earlier this year, U.S. forces captured Maduro, and the Trump administration announced plans to take control of Venezuelan oil sales.

Israel usually does not reveal the sources of its crude oil, and tankers have sometimes gone off digital tracking systems when approaching its ports.

Once the shipment arrives, it will be the first since mid-2020, when Israel imported about 470,000 barrels, based on data from Kpler. Bazan, also known as Oil Refineries Ltd, did not comment on the matter. Additionally, Israel's energy ministry did not provide any details on the country's oil sources.

This deal is yet another indication of how the change in Venezuela's leadership is impacting its oil exports. Previously, most of the country’s oil was sold to China, but recently shipments have gone to buyers in India, Spain, the U.S., and now Israel.