Contents tagged with Venezuela

  • Russia will undertake restructuring of Venezuela's debt

    Russia and Venezuela have signed an intergovernmental protocol to restructure Venezuela's debt, as  reported on the Russian Ministry of Finance's website.

    The new schedule assumes that a debt of $3.15 billion will be repaid within 10 years. The volume of payments will be minimal during the first six years.

    The Ministry of Finance explained that the restructuring of the debt "will allow for the allocation of funds for the development of the country's economy, to improve the debtor's solvency, …

  • Venezuelan President Maduro says Russia may defer Venezuela’s debt repayment

    President of Venezuela, Nicolas Maduro, taking part in Russian Energy Week 2017 in Moscow, discussed the possibility of another restructuring of his country's debt to Russia, as reported by RBC news agency.

    "Any financial obligations to any bank or state can be restructured. We discussed this issue with our Minister of Economy and Finance. We have no difficulties, and are fulfilling our obligations to Russia. Any restructuring is likely to be the result of the governments’ agreements, so there …

  • Venezuela asked Russia to help restructure its debt

    Caracas has appealed to Moscow with a request to restructure Venezuela's debt. This was announced by Russian Minister of Finance Anton Siluanov, reports RBC news agency.

    According to Siluanov, Venezuela "is having difficulties with the fulfillment of the debt." "There was an appeal from [our] colleagues in Venezuela to carry out such a restructuring," Siluanov said at the Moscow Financial Forum.

    According to the minister, the Ministry of Finance Ministry is carrying out this work on …

  • Venezuela’s President Maduro to visit Russia

    The President of Venezuela, Nicolas Maduro has planned a trip to Russia. "I am going to visit Russia soon. We will strengthen bilateral relations," Maduro said at a press conference in Caracas, RIA Novosti reports.

    According to the Venezuelan leader, his country intends to strengthen ties with Russia in the military-technical sphere.

    Earlier, Maduro said that the United States violated international law. "The administration of U.S. President Donald Trump threatens us with military …

  • Russia’s oil giant Rosneft provides $6 billion loan to Venezuela

    Rosneft's advance payments under contracts with the Venezuelan state-owned oil company PDVSA is approximately $6 billion in total; full repayment is expected before the end of 2019, as stated during a conference call on August 8th by Alexander Krastilevsky, Vice President and Advisor to the President of Rosneft and Director of the Department for Planning, Performance Management, Development, and Investments in Refining, Commerce, and Logistics. He specified that $5.7 billion is the principal …

  • Russian oil conglomerates help Venezuelan President Maduro to stay in power

    Moscow continues pouring money into the treasury of Venezuela, whose economy plunged into a chaos caused by currency shortages, lack of essential goods and protests, during which more than 120 people were killed.

    In the second quarter, Venezuela received another $1 billion from Russia’s Rosneft, as  reported by Finanz news web site with reference to Raiffeisenbank's semi-annual IFRS report.

    The money was transferred to the accounts of PDVSA, a Venezuelan oil company that consolidates the last …