Venezuelan oil ventures' accounts shifted to Russia's Gazprombank

Lester Mason
February 11, 2019

"The report by Reuters agency does not correspond with reality".

Reuters reported on Saturday that PDVSA was telling customers of its joint ventures to deposit oil sales proceeds in an account recently opened at Gazprombank.

"We stress that no new accounts have been opened and the bank does not plan to open any new accounts", Gazprombank said. Several years ago PDVSA opened accounts in Gazprombank Group as part of cooperation with several Russian companies, which are the bank's clients.

PDVSA's move comes after the United States imposed tough, new financial sanctions on January 28 aimed at blocking Venezuela's President Nicolas Maduro's access to the country's oil revenue.

Bolivian President Evo Morales on Saturday slammed Venezuela's opposition leader Juan Guaido over his remarks on a possible USA military intervention into the crisis-hit nation.


The opposition leader launched a bid to oust Maduro last month, declaring himself interim president, a move recognised by the United States and around 50 other countries, including 20 from the European Union.

Venezuela's self-proclaimed acting president Guaido on Friday refused to rule out the possibility of authorising United States intervention to help force President Nicolas Maduro from power and alleviate a humanitarian crisis.

On February 4, most European Union member-states recognized Guaido as Venezuela's interim president.

Russia, Turkey, China, Iran, Bolivia and Mexico have put their weight behind Maduro.

Other reports by Iphone Fresh

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