Venezuela Suspends Trade In U.S. Dollars
Venezuela has told oil traders it will no longer accept or offer U.S. dollars in payment for crude oil and fuels, the Wall Street Journal reports , citing sources familiar Continue Reading
Sources Say Trump’s Citgo Sanctions Are Working
Trading sources say President Donald Trump’s new sanctions against Venezuela’s American refining unit, Citgo, have succeeded in making it difficult for the PDVSA subsidiary to order crude for its facilities, Continue Reading
Venezuela’s crude supply to the United States was flat in August
Venezuelan crude sales to the United States in August were largely unchanged at 638,935 barrels per day (bpd) compared with the prior month, but continued to fall far short of Continue Reading
How Will Venezuela Deal With A PDVSA Default?
While debt servicing has been a government priority, declining external liquidity and a deteriorating domestic situation (three-digit hyperinflation, shortages, and a political crisis between the government and the National Assembly) Continue Reading
Venezuela’s ‘Plan Rabbit’ encounters ‘cultural problem’
Venezuelans tend to keep rabbits as pets and do not view them as a source of meat Venezuelan President Nicolás Maduro has devised a “rabbit plan” to counter the economic Continue Reading
Venezuela invites investors to discuss foreign debt
Venezuela has invited international bondholders to negotiations over its foreign debt as the government in Caracas seeks to mitigate the impact of US sanctions and survive a deepening economic crisis. Continue Reading
In Venezuela, Cooking With Firewood as Currency Collapses
Food shortages were already common in Venezuela, so Tabata Soler knew painfully well how to navigate the country’s black market stalls to get basics like eggs and sugar. But then Continue Reading
Exclusive: Latin America looks to Venezuelan fuel cargoes as Harvey swamps U.S.
After Hurricane Harvey roared into Texas, flooding oil refineries and crippling ports along U.S. Gulf Coast, Latin American countries scouring the globe for other sources of fuel are zeroing in Continue Reading
‘Hope Is Gone’ as Venezuelan Protesters Vanish From Streets
Wuilly Arteaga became a symbol of Venezuela’s protest movement as he played patriotic hymns from his violin in the face of tear gas and rubber bullets. Then he was arrested Continue Reading
Trump To Block Russian Ownership Of Venezuelan Subsidiary In US
Trump’s White House will block attempts by the Kremlin to acquire large portions of Venezuela’s Citgo, a U.S. subsidiary of the state-owned PDVSA. Rosneft agreed to acquire half of Citgo’s Continue Reading