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02/11/2019 01:05 PM
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Report Copyright Violation | Maduro Asks OPEC For Help As U.S. Sanctions Bite Nicolas Maduro has asked OPEC to support one of its founding members—Venezuela—against the U.S. sanctions on the Latin American country’s oil industry and denounce the “shameless dispossession” of Venezuelan assets, but Maduro’s plea has fallen on deaf ears, Reuters reported on Monday.
At the end of January, the U.S. imposed sanctions on PDVSA to “help prevent further diverting of Venezuela’s assets by Maduro and preserve these assets for the people of Venezuela. The path to sanctions relief for PdVSA is through the expeditious transfer of control to the Interim President or a subsequent, democratically elected government,” Secretary of the Treasury Steven T. Mnuchin said.
The U.S. and many European countries have recognized Juan Guaidó as the interim president of Venezuela, while Maduro is supported by Russia, China, and Turkey.
The U.S. sanctions block all payments to PDVSA accounts, and buyers of Venezuelan crude are directed to deposit payments in a separate account, to which PDVSA doesn’t have access. [ link to oilprice.com (secure)] |
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02/11/2019 01:58 PM
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Report Copyright Violation | Re: Maduro Asks OPEC For Help As U.S. Sanctions Bite |
