Contents tagged with Venezuela

  • 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 …

  • Venezuela offers to give Russian oil giant Rosneft control over PDVSA

    The Venezuelan government is considering handing over complete control of the state-owned oil company Petróleos de Venezuela S.A. (PDVSA) to the Russian oil corporation Rosneft, the Venezuelan newspaper El Nacional reported, citing sources in the country’s energy sector.

    According to the news outlet, the Venezuelan government proposed this initiative in exchange for writing off the country’s debt to Russia. Moscow apparently viewed the initiative positively, because it sent several commissions …

  • Venezuela pays off Russian debts using rubles instead of dollars

    Venezuela has made an interest payment on a $3.15 billion loan from Russia using Russian rubles. “We provide such a right and such an opportunity to all our debtors. It’s their choice,” Russian Deputy Finance Minister Sergey Storchak told RBC. The Russian Finance Ministry had already announced previously that Venezuela had made another tranche to service its debt, but without providing any specifics.

    After the US imposed sanctions on the Venezuelan government, it became virtually impossible …

  • Russian military experts arrive in Venezuela

    A group of Russian military experts arrived in the capital of Venezuela, Caracas, reports Interfax. Military experts flew to Venezuela for planned maintenance and repair of military equipment that was delivered earlier as part of military-technical cooperation of the two countries.

    Earlier, Flightradar24 air traffic monitoring service reported that Russian Il-62M aircraft landed in Caracas. According to these reports, Antonov An-124 Ruslan aircraft also arrived in Venezuela. Both planes …

  • Putin promises Maduro support and assistance

    Russian President Vladimir Putin assured his Venezuelan counterpart Nicolas Maduro of Moscow’s full support in the struggle for power in Venezuela, and promised him continued assistance.

    “Russia consistently supports all of Venezuela’s legitimate organs of government, including the institution of the president and parliament,” Putin said during the meeting with Maduro in Moscow, as cited by Deutsche Welle. He also expressed his support for dialog between Maduro and Venezuelan opposition leader …

  • Maduro asks Putin for $1 billion to mine gold and diamonds

    Venezuelan President Nicolas Maduro, who arrived in Moscow on his fourth official visit in two years, said that he sees opportunities to increase Russian investment in the Venezuelan economy by another $1 billion.

    This amount, according to TASS, appears in the supporting materials for Maduro's talks with Russian President Vladimir Putin, which are taking place in the Kremlin.

    According to the documents, additional Russian investments can be directed to the development of the mining industry …