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Russian bank freezes accounts of Venezuela's oil company, source tells Reuters
By Tatiana Voronova
Reuters
Sunday, February 17, 2019
MOSCOW -- Russian lender Gazprombank has decided to freeze the accounts of Venezuelan state oil company PDVSA and halted transactions with the firm to reduce the risk of the bank falling under U.S. sanctions, a Gazprombank source told Reuters today.
While many foreign firms have been cutting their exposure to PDVSA since the sanctions were imposed, that a lender closely aligned with the Russian state is following suit is significant because the Kremlin has been among Venezuelan President Nicolas Maduro's staunchest supporters.
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"PDVSA's accounts are currently frozen," the source said. "As you'll understand, operations cannot be carried out."
Gazprombank did not reply to a Reuters request for a comment.
Reuters reported this month that PDVSA was telling customers of its joint ventures to deposit oil sales proceeds in its Gazprombank accounts, according to sources and an internal document, in a move to try to sideline fresh U.S. sanctions on PDVSA. ...
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https://www.reuters.com/article/us-venezuela-politics-gazprombank/russia...
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