Venezuela transferred income from oil sale in Gazprom bank

Due to the US sanctions against Venezuela “PDVSA” oil company started to transfer accounts in Russia Gazprombank.

“PDVSA” company announced to clients that the incomes from oil sale will be charged to account in Russian Gazprombank.

Venezuelan state oil company , according to Reuters, is putting pressure on foreign partners so that revenue is credited to the account in Russian bank.

“PDVSA” has three foreign partners: the Norwegian company “Equinor ASA”, the French company “Total”, and the American company “Chevron”.

“We would like to officially announce the new instructions for making payments in US dollars or euro” says a letter signed by the vice president of “PDVSA” for financial issues Fernando de Quintal.

In his turn, a representative of Gazprombank said in an explanation that “Reuters information is not true”.

The Russian bank said that “PDVSA” has  accounts in many of the world's largest banks, as it is one of the largest oil companies in the world. A few years ago, the company opened its accounts in Gazprombank in the framework of cooperation with Russian client companies. “However, we emphasize that no new accounts have been opened and they do not plan to open it in a bank,” said a representative of Gazprombank.

It was reported earlier that the United States introduced sanctions against the state oil company “PDVSA” because of the political situation in the country. The US sanctions against the company provide for the blocking of “PDVSA” assets worth $7 billion. In addition, the company is expected to receive less than $11 billion per year as a result of lost oil exports.


Tags: oil, USA

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