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Venezuela skirts U.S. sanctions by funneling oil sales via Russia

Rogue Valley

Rogue Valley

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Exclusive: Venezuela skirts U.S. sanctions by funneling oil sales via Russia

Some within PDVSA are concerned Rosneft’s trading arm now has been given too significant a role in decisions over cargo destinations in order to facilitate payment to the Russian company, according to one source. They are also frustrated that Venezuela is paying a heavy premium to Rosneft for imported fuel - needed because of the poor condition of domestic refineries - because only a handful of sellers were willing to skirt U.S. sanctions. “Rosneft is buying our oil for cheap and selling us very expensive fuel in exchange,” the source said. “We always owe them money.”
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In order to skirt US sanctions, India purchaser Reliance Industries Ltd. pays the Kremlin's Rosneft for Venezuela crude oil. Reliance and PDVSA split a Rosneft "handling fee". A huge problem is that few oil tanker companies wish to find themselves on the US sanctions list. So tanker ships off of Venezuela's José loading/unloading platforms are sitting there loaded with outgoing PDVSA crude or incoming refined petroleum, but not sure how to proceed due to sanctions. Exposed, India's Reliance now has a choice to make.

Venezuela Just Lost One of Its Largest Fuel Suppliers

Spain's Repsol is suspending all fuel shipments to Venezuela due to US sanctions.
 
Rogue Valley said:
Exclusive: Venezuela skirts U.S. sanctions by funneling oil sales via Russia



In order to skirt US sanctions, India purchaser Reliance Industries Ltd. pays the Kremlin's Rosneft for Venezuela crude oil. Reliance and PDVSA split a Rosneft "handling fee". A huge problem is that few oil tanker companies wish to find themselves on the US sanctions list. So tanker ships off of Venezuela's José loading/unloading platforms are sitting there loaded with outgoing PDVSA crude or incoming refined petroleum, but not sure how to proceed due to sanctions. Exposed, India's Reliance now has a choice to make.

Venezuela Just Lost One of Its Largest Fuel Suppliers

Spain's Repsol is suspending all fuel shipments to Venezuela due to US sanctions.
Click to expand...

It makes one wonder just how much of Venezuela's problem comes from "socialism," and how much from US sanctions. Why do we have sanctions against Venezuela anyway? How are they a threat to us?
 
Dittohead not! said:
It makes one wonder just how much of Venezuela's problem comes from "socialism," and how much from US sanctions. Why do we have sanctions against Venezuela anyway? How are they a threat to us?
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The problems caused by incompetent leadership came first it has been this way for a long time, the sanctions came later when it became clear Maduro cemented his regime and needs to go.
 
Carjosse said:
The problems caused by incompetent leadership came first it has been this way for a long time, the sanctions came later when it became clear Maduro cemented his regime and needs to go.
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It was clear that Hugo Chavez needed to go. When he died, Maduro took over, and continued the same sort of policies. Now, Maduro needs to go. How is imposing sanctions going to accomplish that?
 
Dittohead not! said:
It makes one wonder just how much of Venezuela's problem comes from "socialism," and how much from US sanctions. Why do we have sanctions against Venezuela anyway? How are they a threat to us?
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Sanctions began under President Obama after Maduro's forces (IIRC) shot many protesters who were protesting the conditions in Venezuela...

IOW - Venezuela was slipping into shithole status long before sanctions.

And it is not "socialism" per se. It is putting incompetent people in charge of all industries (not just oil).
 
Fledermaus said:
Sanctions began under President Obama after Maduro's forces (IIRC) shot many protesters who were protesting the conditions in Venezuela...

IOW - Venezuela was slipping into shithole status long before sanctions.

And it is not "socialism" per se. It is putting incompetent people in charge of all industries (not just oil).
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It wasn't incompetent people as much as corrupt ones. Like all dictatorships. When the leader is above the law there is rampant corruption.


A web of former Venezuelan officials and businessmen was charged in Miami Wednesday with operating a massive $1.2 billion international money-laundering racket funded with stolen government money that was invested in South Florida real estate and other assets.

The defendants are accused of embezzling funds from Venezuela’s vast oil income and exploiting its foreign-currency exchange system to amass illegal fortunes in the United States and other countries, according to a federal criminal complaint.
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Venezuelan officials, others charged with laundering $1.2 billion in oil funds | Miami Herald
 
Dittohead not! said:
It was clear that Hugo Chavez needed to go. When he died, Maduro took over, and continued the same sort of policies. Now, Maduro needs to go. How is imposing sanctions going to accomplish that?
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Same reason the US puts sanctions on any country to pressure them.
 
Carjosse said:
Same reason the US puts sanctions on any country to pressure them.
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Pressure them?

If conditions in Venezuela don't put enough pressure on the citizens there to stage a coup, then nothing will.
 
Rogue Valley said:
Exclusive: Venezuela skirts U.S. sanctions by funneling oil sales via Russia



In order to skirt US sanctions, India purchaser Reliance Industries Ltd. pays the Kremlin's Rosneft for Venezuela crude oil. Reliance and PDVSA split a Rosneft "handling fee". A huge problem is that few oil tanker companies wish to find themselves on the US sanctions list. So tanker ships off of Venezuela's José loading/unloading platforms are sitting there loaded with outgoing PDVSA crude or incoming refined petroleum, but not sure how to proceed due to sanctions. Exposed, India's Reliance now has a choice to make.

Venezuela Just Lost One of Its Largest Fuel Suppliers

Spain's Repsol is suspending all fuel shipments to Venezuela due to US sanctions.
Click to expand...

What gives the USA the right to sanction Venezuelan Petro, or anyone else's Petro?
 
DaveFagan said:
What gives the USA the right to sanction Venezuelan Petro, or anyone else's Petro?
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What right had Maduro to slaughter protestors?

That was the original sanctions you cried about.

And is the US forced to accept Venezuelan oil?

We were the number one importer of Venezuelan crude.
 
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Fledermaus said:
What right had Maduro to slaughter protestors?

That was the original sanctions you cried about.

And is the US forced to accept Venezuelan oil?

We were the number one importer of Venezuelan crude.
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You've answered nothing. Check with Pete.
Maduro elected twice.
Guaido is traitor, imposter, and CIA agent.
USA is starving Venezuelan people.
/
 
DaveFagan said:
You've answered nothing. Check with Pete.
Maduro elected twice.
Guaido is traitor, imposter, and CIA agent.
USA is starving Venezuelan people.
/
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Venezuela is starving Venezuela.

Chavez then Maduro destroyed Venezuelan industry and agriculture.
 
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