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Venezuela: US and Russia Dig In at United Nations with Rival Resolutions

11 February, 2019, 22:56 | Author: Lucille Rivera
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      Briefing      Until We Accomplish the Goal
     
     
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Meanwhile, a standoff over humanitarian aid deliveries at the country's border with Colombia, pitting the Venezuelan military, which is still loyal to Venezuelan President Nicolas Maduro, against supporters of opposition leader and self-proclaimed president Juan Guaido.

The warning comes as worldwide aid has taken center stage in a test of wills between Guaido and President Nicolas Maduro in which Venezuela's armed forces are seen as the pivotal player.

There are more than 8 million barrels of Venezuelan crude idling all over the Gulf of Mexico in an area that stretches from US coast to the Yucatan Peninsula in Mexico, according to cargo-tracking and market intelligence company Kpler.

At the end of January, the U.S.

Norway's Equinor and France's Total are among the companies who run joint ventures with PDVSA.

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"We would like to make formal your knowledge of new banking instructions to make payments in USA dollars or euros", wrote PDVSA's finance vice president, Fernando De Quintal, in a letter dated February 8 to the PDVSA unit that supervises its joint ventures.

The minister said USA sanctions meant Venezuela had lost $20 billion in revenues. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World. The decision was made amid tension with some of its partners, which have withdrawn staff from Caracas since USA sanctions were imposed in January.

It further "calls for the immediate start of a political process leading to free, fair and credible presidential elections, with worldwide electoral observation, in line with Venezuela's constitution". The European Union has encouraged member countries to recognize a new temporary government led by Guaido until new elections can be held.

A colonel in the Venezuelan army has become the latest senior officer to renounce President Maduro's regime. Most of the crude oil it produces now is heavy or extra heavy.

PDVSA also ordered its Petrocedeno joint venture with Equinor and Total to halt extra-heavy oil output and upgrading due to a lack of naphtha needed to make the production exportable, as the sanctions prohibit USA suppliers of the fuel from exporting to Venezuela.

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