Contents tagged with Venezuela

  • After 14 years Russia fails to complete construction of Kalashnikov assault rifle factory in Venezuela

    Construction of a Kalashnikov assault rifle factory in in Venezuela has stalled due to the COVID-19 pandemic, an informed source in Caracas told Russian news agency Interfax.

    "The project is being implemented, but the coronavirus has affected everything: personnel, supply of materials, required infrastructure," he said.

    The agency's interlocutor could not name any new deadlines for completion of the construction.

    In 2006, Presidents Vladimir Putin and Hugo Chavez agreed to build two plants …

  • For third time in 4 years Russia restructures Venezuela's loan

    The Russian State Duma at a meeting on Tuesday ratified a bill to restructure the loan issued to Venezuela.

    The third restructuring in the last 4 years will again delay the repayment of the debt principal, which at the beginning of this year was $3.4 billion.

    In the next three years, Venezuela will repay only interest on the loan - two tranches a year for 66.5 million dollars each, according to a document posted on the Duma’s website.

    Debt payments are postponed to 2023-26. During this …

  • Russia ready to help Maduro to investigate recent coup attempt

    Russia is ready to assist Venezuela in the investigation of the recent subversive invasion if it receives the appropriate request, said Russian Foreign Minister Sergey Lavrov at a press conference following the meeting of the CIS Council of Foreign Ministers, TASS reports.

    Lavrov noted that the special services of both countries are in constant contact.

    "If there is a request for assistance on the basis of the current agreements, of course, it will be considered," the Minister assured.

    In …

  • Putin discusses coronavirus and oil prices with Maduro

    Russian President Vladimir Putin has held telephone talks with Venezuelan President Nicolas Maduro, the Kremlin’s press service reported.

    The conversation took place at Maduro's initiative. He expressed gratitude to Putin for his help in combating the spread of coronavirus, as well as for the supply of test kits to Venezuela.

    In addition, the presidents discussed the agreement to reduce oil production, reached as part of the OPEC deal, and touched on the current aspects of further …

  • Russia: U.S. operation against drug trafficking from Venezuela will have negative consequences

    The decision of the United States to launch a military operation to cut off drug supplies in Latin America poses a threat of negative consequences, said Russian Foreign Ministry spokeswoman Maria Zakharova, as cited by RIA Novosti.

    "Washington's decision to launch a military operation to cut off drug supplies in Latin America, which is accompanied by increased military activity around Venezuela, will lead to extremely unpredictable and negative consequences, taking into account the current …

  • Russia establishes a new oil company on the day of Rosneft's departure from Venezuela

    On March 28, when it became known that Russian oil giant Rosneft was terminating its operations in Venezuela, Russia’s Federal Agency for State Property Management, Rosimushchestvo, has established a new company, Roszarubezhneft, which will, in particular, be engaged in the production and transportation of oil and oil associated gas.

    Interfax reports with reference to Russian Single Register of Legal Entities that the company's share capital is 322.7 billion rubles ($4.05 billion USD). It is …

  • Rosneft expects that the U.S. sanctions will be lifted after sale of all its assets in Venezuela

    Rosneft has the right to expect that the US will fulfill its promises and lift the sanctions against Rosneft's subsidiaries after the sale of all assets in Venezuela, said Rosneft’s spokesman Mikhail Leontiev as quoted by the news outlet Prime.

    Earlier, Rosneft announced that it is terminating all its operations in Venezuela and selling all its assets to the company wholly owned by the Russian government. In exchange, the Russian government transferred to Rosneft 9.6% of its own shares.

    "We, …

  • Maduro: Russia to send second shipment of medical equipment to Venezuela

    In the coming days, a second flight with medical equipment to fight coronavirus will arrive in Venezuela from Russia, President Nicolas Maduro said in a speech published on the TV channel VTV.

    "In the coming days, at the request of President Putin, a Russian military plane with all the equipment will arrive," Maduro said. According to him, three flights, including one from Russia, have already arrived in the country this week.

    Earlier, Russia sent to Italy 14 Il-76 aircraft with medical …

  • Kremlin takes ownership of all Rosneft’s assets in Venezuela

    Russian oil giant Rosneft announced that it is terminating operations in Venezuela and will be selling its assets in that country.

    "Today, Rosneft entered into an agreement with a company 100% owned by the Government of the Russian Federation to sell shares and cease its participation in all projects in Venezuela, including shares in Petromonagas, Petroperija, Boqueron, Petromiranda and Petrovictoria, in oil field services and trading operations," Rosneft said in a statement published on its …

  • US imposes sanctions on Swiss subsidiary of Russian oil giant Rosneft

    The US has imposed sanctions on Rosneft Trading, a Swiss subsidiary of the Russian oil company Rosneft, for trading oil with Venezuela, the US Office of Foreign Assets Control (OFAC) announced on Tuesday.

    As of Tuesday, February 18, Rosneft Trading S.A. will be blacklisted by OFAC, and its assets will be frozen. Furthermore, US citizens and legal entities will be banned from concluding any deals with the company itself or any organization of which it owns more than 50%.

    Personal sanctions are …