[Thread] When we thought we had seen it all, @jguaido and his band of buffoons manage to surprise us. And not in a good way, of course. Oil giant ConocoPhillips just got the green light to enforce an $8.5B arbitration award because Guaidó's team... failed to show up in court Image
That's right, ladies and gentlemen. This ragtag circus troupe that Washington "recognizes" as the legitimate Vzlan govt (can anyone say this w/ a straight face?) failed to "plead or defend" itself for more than a year. Is it a case of criminal negligence or working for the enemy? Image
The background here is that disgraceful oil multinational ConocoPhillips won an $8.5 billion arbitration award for assets nationalized by the Hugo Chávez govt when the firm refused to comply with new legislation. Funny how these "tribunals" tend to rule in favor of corporations? Image
It's hardly the first of its kind. In other cases (one at least also involving CP), the Venezuelan gov't challenged the ruling, with some thrown out, others upheld, and others leading to reduced payouts. But in this case, the defense was in the hands of self-proclaimed Guaidó Image
ConocoPhillips moved to have the award enforced and the court approved given the "interim govt"'s no-show. "Vzla is neither an infant nor an incompetent person." Well... If we're talking about Guaidó and his troupe, it's both really. We need a new legal category: pliant US puppet ImageImage
Credit where credit is due: @frrodriguezc has done an invaluable job in bringing these documents to light. He rightfully asks, as we all do, "what's behind this decision to abandon the legal defense in the biggest arbitration award the country is facing?"
Given that the US-backed opposition allegedly struck a deal w/ ConocoPhillips on a $1.3B debt from another award (see thread for details), then very unconvincingly denied it, it's tempting to connect the dots. Was abandoning this defense the quid pro quo?
Our proverbial money is on this self-proclaimed monument to idiocy securing a golden parachute (ConocoPhillips board member?) once this pathetic charade comes to its inevitable, long-overdue end. But in the meantime, assets such as CITGO look as good as lost thanks to his antics Image
Even before this latest $8.5B golden ticket, there was already a queue of corporate vultures, some already trying to collect via a court-ordered sale of CITGO. These include Crystallex ($1.4B), ConocoPhillips ($1.3B), Rusoro Mining ($1.5B) and Owens-Illinois ($500M) Image
The awards are already worth more than the US-based Vzlan refiner, which has been imperiled by a unique mix of corruption, incompetence and conflict of interest. Opp-controlled CITGO has already hired JP Morgan to "consult" on dealing w/ creditors, so the writing's on the wall Image
The only thing standing in the way of the corporations right now is, remarkably, the US Treasury Dept, which has blocked the seizure of Vzlan assets w/o special permission to save US puppets from embarrassment. But there are hints that these protections may be lifted in 2022 Image
Some people have brought up that maybe the self-proclaimed "interim govt" ran out of money, as some pretend official recently asked for resources for defending assets. We're not buying it. There was money for a mercenary invasion but not to pay lawyers? presidenciave.com/parlamento/pro…
Venezuela's foreign assets are sure to be a hot topic in the coming months, w/ the (actual) government determined to fight for them, the opposition doing its best to lose them and the US stuck between serving corporations and protecting its puppets. Follow VA for coverage Image

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More from @venanalysis

5 Oct
Corporate media outlets have pulled a muscle patting themselves on the back over the fancy titled "Pandora Papers". Will the world's mighty tremble w/ bombshell "revelations"? No, not really. Whatever it is they're selling, we're not buying. Here's a thread on it 💸🧵 Image
In Latin America we've discovered things that weren't hard to guess. Billionaire Chilean president Piñera has used tax havens. As have Chicago boy Paulo Guedes (Brasil) and Colombian ex-presidents. Also some Russians so Putin can be used on the cover Image
Unlike Wikileaks revelations where wrongdoing by the world's most powerful actors was laid bare for all to see, the Pandora Papers (like other "papers") reach us after going through the digestive tract of the corporate media. So don't expect the status quo to be challenged at all Image
Read 14 tweets
4 Oct
#whatsappdown #facebookdown #instagramdown With Zuckerberg's stuff having some (ahem) technical difficulties, why not check out some VA content you might have missed? Image
Our latest interview featured anthropologists Iraida Vargas and Mario Sanoja. In a really interesting conversation, they make the case that Venezuela's modern-day popular power efforts build on a long history of rebellious and communal roots. Read it here: venezuelanalysis.com/interviews/153… Image
Venezuela still has one of the continent's most backward penal codes when it comes to abortion. Feminist movements have been organizing to make sure that changes soon. Find out more in this report: venezuelanalysis.com/news/15336 Image
Read 5 tweets
4 Oct
No love lost between puppet groups #1 and #2. We're close to an open war between the more mainstream opposition parties and the extremist faction led by Guaidó and his mentor Leopoldo López. Exhibit A: an interview (in Spanish) by Humberto Calderón Berti
elnacional.com/venezuela/cald…
Calderón Berti is an operative from the old days, former minister and PDVSA president in the 80s and 90s. He feels the US interests should be served with a bit more decorum, as opposed to the rampant thievery and buffoonery of this circus known to some as the "interim govt" Image
Though he should have known better, Calderón Berti accepted to serve as pretend ambassador to Colombia in 2019. He resigned over disagreements over the handling of Monómeros, Colombia-based Vzlan agrochemical company that has filed for bankruptcy. He returns to it in this itw
Read 6 tweets
4 Oct
🇻🇪🇮🇷 Venezuela's PDVSA and Iran's NIOC reportedly struck a crude-for-condensate swap deal that could shake Washington's illegal sanctions against both countries.

Read about Venezuela's besieged economy here: venezuelanalysis.com/images/15339

News thread 👇
🇻🇪🇮🇷 According to Tanker Trackers, 2.1M barrels of Iranian condensate have reportedly arrived in Venezuela to boost oil output as part of a swap deal.

Venezuela is betting on economic recovery despite US sanctions. Iran has provided expertise and fuel swaps. Image
Venezuela rolled out its new digital bolívar amid the recent inflation slowed-down. The gov't’s goal is to boost digital operations and avoid cash scarcity. However, a speculative frenzy followed swiftly, with officials calling it a "political operation." venezuelanalysis.com/news/15338
Read 8 tweets
2 Oct
🧵🧵Venezuela has been mired in a serious economic crisis for years. In this infographic we shed some light on this complex topic, as an oil price crash and deadly US sanctions created a perfect storm that has imposed tremendous hardships on the Venezuelan people #SanctionsKill Image
📉The economic downturn has seen Venezuelan GDP contract by more than two-thirds. The recession was triggered by the 2014 fall in oil prices and later compounded by wide-reaching unilateral coercive measures by Washington and its allies which also blocked any solutions Image
📈High inflation has been a constant in recent years, mostly fueled by currency speculation. The Maduro government has managed to slow down the devaluation-inflation spiral in the past few months, but with sanctions in place recovery or even stability remain an uphill battle Image
Read 8 tweets
24 Sep
Don't take our word for it. Here's a Citi executive saying the bank blocked a PDVSA payment to a creditor. He was testifying in a court case that might demonstrate how far-reaching US sanctions are. But it's the US justice system, so don't hold your breath
reuters.com/world/americas…
Of course, right at hand was an "expert witness" to say that PDVSA could have just used another bank. Sure... The US threatened an asphalt company from Thailand against dealing w/ PDVSA, but a US bank would have done it, no questions asked. Surely Citi were being paranoid...
Of course @Reuters can't avoid its "Maduro says" trick. Copying and pasting is no excuse for dishonesty. Even US representatives and the freaking US Chamber of Commerce attest to the sanctions' economic damage. But corporate media will ride the imperialist train into the sunset
Read 4 tweets

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