The operator of an oil terminal operated by Venezuela’s state oil company PDVSA has declared bankruptcy, blaming it on U.S. sanctions, Reuters has reported , citing court documents. According to the court documents, the operator of the terminal on the Caribbean island of Bonaire filed for bankruptcy earlier this month, saying it could not keep paying its debts because U.S. sanctions had cut off its access to “international trade” and to cash in bank accounts. However, the company, Bonaire Petroleum Corporation, said in its filing that there was a third party that could provide the money it needed to “satisfy its preferred creditors and offer a settlement to its unsecured creditors.” The Reuters report notes that Bonaire Petroleum Corporation could store up to 10 million barrels of crude at its terminal and load tankers from deepwater docks. The company was ordered last year to remove the oil because of […]