Venezuela - Basket Case of S.America.
Ecce Homo! Loquitur...
Join Date: Jul 2000
Location: Peripatetic
Posts: 10,198
https://www.theguardian.com/us-news/...t-assets-in-us
Trump freezes all Venezuelan government assets in US
The Trump administration has frozen all Venezuelan government assets in a significant escalation of tensions with socialist leader Nicolás Maduro. It places Washington’s trade relations with the South American country on a par with Cuba, Syria, Iran and North Korea. The ban on Americans doing business with Venezuela’s government takes effect immediately.
“All property and interests in property of the Government of Venezuela that are in the United States ... are blocked and may not be transferred, paid, exported, withdrawn, or otherwise dealt in,” the executive order says. The order, signed by President Trump on Monday, cited Maduro’s continued “usurpation” of power and human rights abuses by those loyal to him........
As part of the executive order, Americans will be banned from engaging in transactions with anyone determined to be assisting Maduro or his government. The same Maduro supporters will also be banned from entering the US. Exceptions will be allowed for the delivery of food, medicine and clothing. Transactions with Venezuela’s still sizeable private sector do not appear to be affected either.......
Trump freezes all Venezuelan government assets in US
The Trump administration has frozen all Venezuelan government assets in a significant escalation of tensions with socialist leader Nicolás Maduro. It places Washington’s trade relations with the South American country on a par with Cuba, Syria, Iran and North Korea. The ban on Americans doing business with Venezuela’s government takes effect immediately.
“All property and interests in property of the Government of Venezuela that are in the United States ... are blocked and may not be transferred, paid, exported, withdrawn, or otherwise dealt in,” the executive order says. The order, signed by President Trump on Monday, cited Maduro’s continued “usurpation” of power and human rights abuses by those loyal to him........
As part of the executive order, Americans will be banned from engaging in transactions with anyone determined to be assisting Maduro or his government. The same Maduro supporters will also be banned from entering the US. Exceptions will be allowed for the delivery of food, medicine and clothing. Transactions with Venezuela’s still sizeable private sector do not appear to be affected either.......
Join Date: Jul 2013
Location: Everett, WA
Age: 64
Posts: 2,602
The socialist paradise turns to a revolutionary economic model to prevent collapse?
https://www.msn.com/en-us/news/world...oil/ar-BBZNgGM
I wonder what they will call this revolutionary new economic concept of having private companies run businesses?
After decades of dominating its oil industry, the Venezuelan government is quietly surrendering control to foreign companies in a desperate bid to keep the economy afloat and hold onto power.
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Private companies are pumping crude, arranging exports, paying workers, buying equipment, and even hiring security squads to protect their operations in a collapsing countryside, according to managers and oil consultants working on the country’s energy projects.
<snip>
Private companies are pumping crude, arranging exports, paying workers, buying equipment, and even hiring security squads to protect their operations in a collapsing countryside, according to managers and oil consultants working on the country’s energy projects.
I wonder what they will call this revolutionary new economic concept of having private companies run businesses?
Join Date: Aug 2009
Location: Texas
Age: 60
Posts: 5,446
One way or another, the government will milk the cash cow that is the PDVSA / Citgo lashup. But the plot does thicken a bit this year ...
As of September of 2019, the Crystallex case seems to be moving forward
Canadian mining firm Crystallex is another creditor of PDVSA's Citgo holdings and could potentially end up in control should PDVSA default in 2020.
Crystallex, through a US court case, has already received an undisclosed amount of Citgo shares in compensation for Venezuela's 2008 nationalization of their mines.
A separate Canadian mining firm, Rusoro, is also pursuing $1.28 billion in repayment for the prior nationalization of its assets, which it is pursuing through the US justice system until PDVSA begins making payments.
Crystallex, through a US court case, has already received an undisclosed amount of Citgo shares in compensation for Venezuela's 2008 nationalization of their mines.
A separate Canadian mining firm, Rusoro, is also pursuing $1.28 billion in repayment for the prior nationalization of its assets, which it is pursuing through the US justice system until PDVSA begins making payments.
