Venezuela's Guaido warns military on blocked aid

Venezuela's Guaido warns military on blocked aid

Venezuela's Guaido warns military on blocked aid

As one of the world's major oil companies, PDVSA opened accounts in many large banks, including global ones. Reuters said PDVSA's move follows new U.S. financial sanctions imposed on January 28 and aimed at blocking President Nicolas Maduro's access to Venezuela's oil revenue.

Venezuelan leaders may be committing "genocide" by blocking food deliveries, the country's opposition leader and self-declared interim president said Sunday.

According to the United Nations, some 2.3 million Venezuelans have fled the country since 2015. Maduro has denounced Guaido as a US puppet seeking to foment a coup.

The war game is believed to be held for preparing to repel any potential invasion from the US and its allies. Guaido has said he plans to name a new board of directors for the state producer and its USA subsidiary.

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On Saturday, Reuters reported citing sources that PDVSA (Petroleos de Venezuela, S.A.) is telling customers of its oil joint ventures to deposit sales proceeds at an account at Russia's Gazprombank.

The minister said USA sanctions meant Venezuela had lost $20 billion in revenues.

While no date has yet been set for a vote on the American draft, and negotiations are ongoing, Russian Federation is likely to use its veto power to block it as part of its support of Nicolas Maduro's regime, diplomats said.

Maduro, after launching a signature-gathering campaign against alleged USA interference, has repeatedly stressed his sentiment that the main objective behind Washington's interest in the political outcome in Venezuela is the nation's oil reserves, said to the largest in the world.

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Sanctions created to deprive Maduro of oil revenue have left an armada of loaded oil tankers off Venezuela's coasts that have not been discharged by PDVSA's customers due to payment issues.

The US State Department announced last month that Washington froze some $7 billion in assets belonging to Venezuelan state-owned oil company PDVSA in order to make some of that money available to Guaido and his team.

Quevedo, whose country holds the rotating presidency of the Organization of the Petroleum Exporting Countries, said it was important to listen to oil consuming nations as OPEC and other producers sought to balance supply and demand in the oil market.

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