Venezuela tells its partners to make a decision regarding depositing oil sale proceeds

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  • 8 months ago
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Venezuelan oil company PDVSA is instructing its clients to deposit proceeds of oil sales into Russian bank Gazprombank AO.

The move by PDVSA follows the sanctions imposed by the U.S. in late January, blocking Maduro from accessing the country’s oil revenue.

Opposition leader Guaido is largely seen as the rightful leader of the country following a widely criticized election in January, has stated that he would put a fund in place which would be able to accept proceeds from sales of Venezuelan oil.

Although recognized by the U.S. and several other countries, Maduro has blasted Guaido as being a puppet for the international community in order to stage a coup.

Additionally, the PDVSA has begun pressing its foreign partners holding stakes in joint ventures in its key Orinoco Belt producing area, such as Norway’s Equinor, Chevron Corp. and France’s Total SA, to make a decision.



Source: Smart Trend Team