Tsarizm
Eastern Europe

Russia Ready To Seize Control Of The World’s Largest Oil Reserves

Russia Ready To Seize Control Of The World's Largest Oil Reserves
Встреча с Президентом Венесуэлы Николасом Мадуро
Image by
Kremlin.ru

The Venezuelan government is readying to hand over control over state oil company PDVSA to Russia’s Rosneft, a local newspaper has reported, citing sources from the industry.

Russian TASS reports, quoting El Nacional, that the radical move is being discussed as a way of erasing Caracas’ debt to Moscow. The debt is sizeable: at the end of June this year, money owed to Rosneft alone stood at $1.1 billion. That’s down from $1.8 billion at end-March…

To read more visit Zero Hedge.

Related articles

Moody’s Upgrades Ukraine Debt Rating

Tsarizm Staff

Snowden Can Receive Russian Citizenship, His Lawyer Declares

Mariam Gogolishvili

How Trump Is Changing Obama Foreign Policy With US Allies In Eastern Europe

Tsarizm Staff

Leave a Comment

Subscribe to our evening newsletter to stay informed during these challenging times!!