Russian oil conglomerates help Venezuelan President Maduro to stay in power
Moscow continues pouring money into the treasury of Venezuela, whose economy plunged into a chaos caused by currency shortages, lack of essential goods and protests, during which more than 120 people were killed.
In the second quarter, Venezuela received another $1 billion from Russia’s Rosneft, as reported by Finanz news web site with reference to Raiffeisenbank’s semi-annual IFRS report.
The money was transferred to the accounts of PDVSA, a Venezuelan oil company that consolidates the last industry in the country that is still functioning: the extraction and processing of crude oil. Through it, Venezuela receives 96% of all foreign currency earnings, …read more