{"id":2901,"date":"2019-01-30T19:00:18","date_gmt":"2019-01-30T23:00:18","guid":{"rendered":"http:\/\/drealfmgrenada.com\/?p=2901"},"modified":"2019-01-30T19:00:18","modified_gmt":"2019-01-30T23:00:18","slug":"russia-vows-to-defend-its-venezuelan-oil-assets","status":"publish","type":"post","link":"https:\/\/drealfmgrenada.com\/index.php\/2019\/01\/30\/russia-vows-to-defend-its-venezuelan-oil-assets\/","title":{"rendered":"Russia vows to defend its Venezuelan oil assets"},"content":{"rendered":"
Russia will defend its interests in Venezuela within the international law using \u201call mechanisms available to us,\u201d Dmitry Peskov, spokesman for Russia\u2019s President Vladimir Putin, told Russian media on Tuesday.<\/div>\n
\n

Russia has kept close ties with Venezuelan President Nicolas Maduro and has extended loans to Venezuela, including oil firm Rosneft lending money to Venezuela\u2019s state-held firm PDVSA. Rosneft has extended $6 billion of loans to PDVSA, which needs to be fully redeemed in crude oil supplies by the end of this year.<\/p>\n

According to S&P Global Platts, as of November 2018, Venezuela had $3.1 billion outstanding loan to repay to Rosneft. The Russian company also has five joint upstream projects with PDVSA in Venezuela.<\/p>\n

However, the US Treasury slapped another round of sweeping sanctions against PDVSA on Monday, in order to\u00a0\u201chelp prevent further diverting of Venezuela\u2019s assets by Maduro and preserve these assets for the people of Venezuela.\u201d<\/em><\/p>\n

The US backed last week Juan Guaido, the chairman of the National Assembly, as the legitimate president of Venezuela, after Guaido declared himself interim president.<\/p>\n

The path to sanctions relief for PdVSA is through the expeditious transfer of control to the Interim President or a subsequent, democratically elected government,\u201d<\/em>\u00a0Secretary of the Treasury Steven T. Mnuchin said.<\/p>\n

The Kremlin considers the sanctions against PDVSA as\u00a0\u201cillegal\u201d<\/em>, a sign of\u00a0\u201cunfair competition\u201d<\/em>and an attempt to interfere with Venezuela\u2019s internal affairs, Peskov said on Tuesday.<\/p>\n

Russia is assessing the potential consequences of the sanctions on PDVSA for Moscow, Peskov added.<\/p>\n

According to analysts briefed by Platts, whatever the outcome of Venezuela\u2019s political impasse, Rosneft won\u2019t be cut off from Venezuelan oil assets, as oil is pretty much the only hard-currency revenue the country can get. An analyst at a Western bank estimates Rosneft\u2019s assets in Venezuela at up to $2.5 billion, plus another $2.5 billion in crude supplies for the loan to PDVSA.<\/p>\n

\u201cThe worst-case scenario – which is unlikely to materialize\u00a0– under which Rosneft loses all the money it invested in Venezuela, would be biting but not critical for the company, with quarterly free cash flow at over $4 billion,\u201d<\/em>\u00a0the analyst told Platts.<\/p>\n

This\u00a0article\u00a0was originally published on\u00a0Oilprice.com<\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Russia will defend its interests in Venezuela within the international law using \u201call mechanisms available to us,\u201d Dmitry Peskov, spokesman for Russia\u2019s President Vladimir Putin, told Russian media on Tuesday. Russia has kept close ties […]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":2902,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[41],"tags":[180],"class_list":{"0":"post-2901","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-regional-news","8":"tag-language"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2019\/01\/Nicolas-maduro.jpg?fit=980%2C551&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"rttpg_featured_image_url":{"full":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2019\/01\/Nicolas-maduro.jpg?fit=980%2C551&ssl=1",980,551,false],"landscape":["https:\/\/drealfmgrenada.com\/wp-content\/uploads\/2019\/01\/Nicolas-maduro.jpg",980,551,false],"portraits":["https:\/\/drealfmgrenada.com\/wp-content\/uploads\/2019\/01\/Nicolas-maduro.jpg",980,551,false],"thumbnail":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2019\/01\/Nicolas-maduro.jpg?resize=150%2C150&ssl=1",150,150,true],"medium":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2019\/01\/Nicolas-maduro.jpg?fit=300%2C169&ssl=1",300,169,true],"large":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2019\/01\/Nicolas-maduro.jpg?fit=980%2C551&ssl=1",980,551,true],"1536x1536":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2019\/01\/Nicolas-maduro.jpg?fit=980%2C551&ssl=1",980,551,true],"2048x2048":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2019\/01\/Nicolas-maduro.jpg?fit=980%2C551&ssl=1",980,551,true],"mh-magazine-slider":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2019\/01\/Nicolas-maduro.jpg?resize=980%2C438&ssl=1",980,438,true],"mh-magazine-content":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2019\/01\/Nicolas-maduro.jpg?resize=678%2C381&ssl=1",678,381,true],"mh-magazine-large":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2019\/01\/Nicolas-maduro.jpg?resize=678%2C509&ssl=1",678,509,true],"mh-magazine-medium":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2019\/01\/Nicolas-maduro.jpg?resize=326%2C245&ssl=1",326,245,true],"mh-magazine-small":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2019\/01\/Nicolas-maduro.jpg?resize=80%2C60&ssl=1",80,60,true]},"rttpg_author":{"display_name":"adminrfm","author_link":"https:\/\/drealfmgrenada.com\/index.php\/author\/adminrfm\/"},"rttpg_comment":0,"rttpg_category":"Regional News<\/a>","rttpg_excerpt":"Russia will defend its interests in Venezuela within the international law using \u201call mechanisms available to us,\u201d Dmitry Peskov, spokesman for Russia\u2019s President Vladimir Putin, told Russian media on Tuesday. Russia has kept close ties [...]","_links":{"self":[{"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/posts\/2901","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/comments?post=2901"}],"version-history":[{"count":1,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/posts\/2901\/revisions"}],"predecessor-version":[{"id":2903,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/posts\/2901\/revisions\/2903"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/media\/2902"}],"wp:attachment":[{"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/media?parent=2901"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/categories?post=2901"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/tags?post=2901"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}