Venezuela's opposition-controlled National Assembly expects to vote on making a US$71 million bond interest payment when it meets next week, a lawmaker and a member of state-run oil company PDVSA's ad-hoc board of directors said.
US Vice President Mike Pence announced sanctions on Friday on 34 vessels of Venezuela's state oil company and two companies that ship crude to Cuba as Washington pushes to oust President Nicolas Maduro.
The President of Venezuela’s opposition-dominated National Assembly Juan Guaido will announce new boards of directors for state oil company PDVSA and its U.S. business, Citgo, according to opposition leader sources.
Russia and China strongly criticized U.S. sanctions placed on Venezuela, with the former pledging to support the beleaguered President Nicolas Maduro. Russian Foreign Minister Sergei Lavrov said on Tuesday the sanctions completely undermined confidence in an international financial system that is dominated by the U.S., Russian news agency Interfax reported.
The US has imposed sanctions on Venezuela's state-owned oil firm PDVSA and urged the country's military to accept a peaceful transfer of power. National Security Adviser John Bolton said President Nicolás Maduro and his allies could no longer loot the assets of the Venezuelan people. Efforts by the opposition to unseat Mr Maduro have increased in recent days.
Cash-strapped Venezuela settled a US$1.2 billion arbitration claim that will prevent a creditor from stripping away its crown jewel foreign asset, the U.S.-based Citgo Petroleum Corp refining business, according to Canadian court documents.
Venezuelan state oil company PDVSA is appealing a decision allowing Canadian miner Crystallex to take control of shares in U.S. subsidiary PDV Holdings as part of a 10 year dispute over the state takeover of Crystallex assets, a court filing shows.
Venezuela's President Nicolás Maduro has said that a preliminary analysis shows that new financial sanctions imposed by the United States will lead to a halt in oil exports to the US. President Trump's order bans trade in Venezuelan debt and blocks its state oil firm from selling bonds in the US.
Venezuela has donated US$500,000 to US President Donald Trump's inauguration, newly released records show. Citgo Petroleum, a US-based subsidiary of the Venezuelan state-owned oil company, is named in papers filed with the Federal Election Commission.
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.