The US sanctions on PDVSA, the Venezuelan state-owned oil company, threaten to affect the Maduro government’s ability to repay its debts to Russia, Russian Deputy Finance Minister Sergey Storchak said on Tuesday. 

According to Storchak, Venezuela has borrowed more than $3 billion from Russia in intergovernmental loans. 

The debt had to be restructured in November 2017, when the repayment schedule became impossible for Nicolás Maduro, whose 6 year rule has seen the Venezuelan economy shrink by …

Russian officials’ attempts to get through to Chinese investors in order to enlist their support in developing the economy in the East and overcoming western sanctions are continuing to fail for the fifth consecutive year. 

The new negotiations to secure a Chinese loan for the construction of Russia’s largest gas processing plant in the Amur province have ended with yet another disappointment for the Russians. 

Gazprom had hoped to pay for the Amur gas processing plant, which is scheduled to …

Moscow has said that the sanctions imposed by Washington on PDVSA, the Venezuelan state-owned oil company, in an attempt to undermine Nicolas Maduro’s power, are illegal. 

“The legitimate leadership of Venezuela has already described these sanctions as illegal. One can fully get behind this perspective,” Kremlin spokesperson Dmitry Peskov told reporters. 

The US Treasury Department said that the measures against the Venezuelan state-owned oil company were adopted in order to “change the …