Tag: Venezuela

Venezuela
Tuesday, August 12th 2014 - 06:10 UTC

Venezuelan oil company begins operations with China’s Citic Bank

 PDVSA told buyers payments can still be made in dollars or Euros, but every transfer must go to China Citic Bank and use Deutsche Bank as intermediary.

Venezuela’s state-run oil company PDVSA has started using China Citic Bank to collect money from crude and fuel sales instead of Portugal’s Banco Espirito Santo, according to media reports in Caracas.

Friday, August 8th 2014 - 08:31 UTC

IATA warns Venezuela it could be left isolated, if it doesn't pay airlines

“There are five airlines that have come to an agreement, but only two have received the amounts agreed, while the other three have not,” said Peter Cerda

The International Air Transport Association (IATA) has reminded the Venezuelan government that if it fails to settle debts with international airlines, the country would be isolated from the world; hence, the association urged Venezuela to reach agreements, and above all, to fulfill such agreements.

Thursday, July 31st 2014 - 07:29 UTC

US imposes travel restriction on a number of Venezuelan officials

The US spokesperson said the restrictions were in response to “arbitrary detentions and excessive use of force” by Venezuelan officials

The United States is imposing travel restrictions on a number of Venezuelan officials. Washington did not specify how many people would be affected, but said those “who have been responsible for or complicit in human rights abuses” would not be “welcome” in the US.

Tuesday, July 29th 2014 - 06:19 UTC

IATA claims from Venezuela the 4.1 billion dollars owed to airlines

The blocked monies are from ticket sales in Venezuela and are being held by the government in breach of international treaties

The International Air Transport Association (IATA) called on the Venezuelan government to honor the commitment it made in March to permit airlines to repatriate in full and at fair exchange rates airline funds being blocked in the country.

Monday, July 28th 2014 - 07:30 UTC

Cash-short Venezuela considering the sale of its US downstream subsidiary

Citgo includes thousands of gasoline stations plus several refineries and storage facilities

Venezuela's state-run oil company Petroleos de Venezuela SA (PDVSA) is considering offers to sell its U.S. downstream subsidiary Citgo, industry research group Argus Media reported on its website last Friday.

Monday, July 28th 2014 - 07:11 UTC

Dutch government releases former Venezuelan general retained on DEA request

Dutch government releases former Venezuelan general retained on DEA request

The Dutch government released a former Venezuelan general who was detained on US drug charges when he arrived in Aruba to serve as his country's consul on the Dutch Caribbean island, sending him home Sunday night and defusing a diplomatic fight with its neighbor.

Saturday, July 26th 2014 - 06:04 UTC

Venezuelan general retained in Aruba to be extradited to the US

General Carbajal apparently belongs to the “Cartel of the Suns”, high-ranking military officers believed to have grown rich from drug-running

A judge in Aruba ruled Friday that the highest-ranking Venezuelan official ever arrested on a U.S. warrant will remain behind bars pending an extradition request on drug charges. Hugo Carvajal, a former head of Venezuelan military intelligence and close confidant of the late president Hugo Chavez, was arrested upon arriving at Aruba’s airport, officials said Thursday.

Thursday, July 24th 2014 - 23:27 UTC

Hard-line opposition leader Lopez on trial; defense evidence thrown out

The opposition leader was arrested on February 18 after he spoke at a demonstration that turned violent

The trial against Venezuelan hard-line opposition leader Leopoldo Lopez, who is accused of inciting violence at anti-government protests has began in Caracas. Lopez could face up to 13 years in jail if convicted.

Tuesday, July 22nd 2014 - 06:25 UTC

Venezuela admits its ever growing dependency from China

“Venezuela has become one of the places most committed to investments from China and the seventh supplier of oil” said Xi

Venezuela confirmed Monday that its relations with China have become a fundamental pillar for making progress in almost all sectors of its economy. With a new portfolio of accords and almost 5.7 billion in loans, Beijing will provide support in many key areas.

Wednesday, July 9th 2014 - 07:32 UTC

Venezuela knocks on the door of international banks and promises to respect debt payments

Ramirez said on Sunday that the government is working on “re-profiling its debt,” including extending payment deadlines.

After slamming international banks for more than a decade, the Venezuelan government met with investment bankers to try to change the perception of risk associated to the country and prepare the scenario for upcoming economic measures.

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