President Nicolas Maduro announced Sunday that leading opposition parties will be barred from taking part in next year's presidential vote after they boycotted mayoral polls, in a move set to further consolidate his grip on power. That includes the groups of key figures who have led street protests against his rule such as Henrique Capriles, Leopoldo Lopez and others, Maduro told reporters after casting his vote in the municipal polls.6 comments
China Petroleum & Chemical Corp., the state-controlled oil company, is suing Petroleos de Venezuela SA in U.S. courts for unpaid bills. Sinopec, as the Chinese company is known, also filed a request for arbitration against PDVSA at the International Chamber of Commerce, as it alleges damages of at least $23.7 million, according to court papers.Add your comment!
Venezuela's former oil czar resigned as ambassador to the United Nations, on what he said were orders from President Nicolas Maduro, a sign of growing divisions in the ruling socialist party amid a deepening economic crisis.Add your comment!
Venezuela said future elections in the country would only take place once U.S. sanctions against top ranking officials and its finances are lifted, in a sign from the government that next year’s presidential vote is at risk.5 comments
Venezuela's state-owned oil firm PDVSA said Friday it has started to repay US$233 million in interest on two bonds nearing default, days before the end of the 30-day grace period. Writing on Twitter, the company announced the transfer process was started to pay the interest on the PDVSA 8,5% 2020 Bonds and the PDVSA 6% 2022 Bonds.
Venezuelan President Nicolas Maduro on Sunday tapped a National Guard major general to lead state oil company PDVSA and the Oil Ministry as the OPEC member labors under near 30-year lows in oil production.
Poverty and scarcity are so extended in Venezuela that people now sell and buy food by the spoonful in a desperate attempt to overcome a situation that has worsened as the economy has entered into a growing hyperinflationary cycle.
Venezuela’s former attorney general urged the International Criminal Court to launch an investigation into alleged abuses of murder and torture by the leaders of the crisis-hit country. President “Nicolas Maduro and his government must pay for this, for these crimes against humanity,” said Luisa Ortega, after handing over to the tribunal in The Hague a dossier containing 1,000 pieces of evidence.
The ousted mayor of Caracas pledged to spread his protest against Venezuela's socialist government across the world as he arrived in Spain on Saturday, a day after escaping from house arrest and slipping past Venezuelan security forces into Colombia.
Russia and Venezuela signed a debt restructuring deal on Wednesday allowing Caracas to make minimal payments to Moscow in the next six years to help it meet obligations to other creditors, the Russian Finance Ministry said. Under the deal, Venezuela will pay Russia back a total of US$ 3.15 billion over a 10-year period, the ministry said.