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Big story buried in last week's news
Exclusive: Venezuela skirts US sanctions by funneling oil sales via Russia - President Maduro is funneling cashflow from PDVSA oil sales through Rosneft as he seeks to evade US sanctions designed to oust him from power
reuters.com/article/us-ven…
Exclusive: Venezuela skirts US sanctions by funneling oil sales via Russia - President Maduro is funneling cashflow from PDVSA oil sales through Rosneft as he seeks to evade US sanctions designed to oust him from power
reuters.com/article/us-ven…
Scheme involves PDVSA passing invoices from oil sales to Rosneft which pays PDVSA immediately at discount & then collects full amount later. Companies such as India’s Reliance Industries Ltd, PDVSA’s largest cash-paying client, were asked to participate
reuters.com/article/us-ven…
reuters.com/article/us-ven…
Rosneft, run by close Putin ally Igor Sechin, has capitalized on the crisis to take an ever-bigger share of the oil industry in Venezuela - In Feb Rosneft had estimated $2.11 billion in Venezuelan projects. Russia, with China & Cuba, are supporting Maduro
reuters.com/article/us-ven…
reuters.com/article/us-ven…
There are many other complex factors impacting Venezuela, but back in 2017 I anticipated that Trump could back sanctions against Venezuela as a way to push PDVSA ownership into the hands of Rosneft
Rosneft Threatens to Ban Reuters in Russia Over Venezuela Report - “We consider it necessary to turn to law enforcement agencies to prevent the pseudo-agency’s illegal activities in Russia,” Rosneft said in a statement Friday
themoscowtimes.com/2019/04/19/ros…
themoscowtimes.com/2019/04/19/ros…
