Venezuela moves oil company to Russia
Venezuela is moving the headquarters of its state oil company from Lisbon to Moscow, the country's vice president, Delcy Rodriguez, announced Friday.So Maduro thinks the answer to the problem of US sanctions is to move its headquarters to a country that is also suffering under US sanctions? His attempt to become self-sufficient is also laughable. He has destroyed domestic industries and distribution companies with this absurd price controls. Attempting to repeal the laws of supply and demand by fiat is a fool's errand and Maduro is just the man for the job.
“We are going to make industrial investments to produce everything we need in our country with the Russian Federation’s help,” Nicolas Maduro's second-in-command said at a press conference in Moscow with Russian foreign minister Sergey Lavrov. “We are strategic partners.”
Russia continues to be one of the key allies of the embattled Maduro dictatorship, offering humanitarian assistance and a massive line of credit for a governmental infrastructure struggling to stay afloat, purchasing petroleum amid U.S. sanctions, and now serving as an asset haven for Venezuelan operatives.
"We will continue strengthening our relations with Russia. We will expand our trade opportunities and launch new mechanisms. President Nicolas Maduro has given clear instructions. We will purchase products and medicines that our people need from Russia," Rodriguez added. "On December 5 last year, Maduro held an official visit to Russia, and new agreements were signed. Now we are preparing to expand our cooperation, [to sign] new agreements and to implement the existing 264 deals."
The move from Portugal to Russia is part of Venezuela's strategy to maneuver through waves of international sanctions imposed its key industries and top-level officials. International banking systems have already begun to show reluctance in handling Venezuelan accounts. Rodriguez pointed to the Bank of England's refusal to unfreeze Venezuelan assets as the signal that Europe will abide by the standards set by the United States.
The U.S. Treasury Department issued a new wave of sanctions against members of Maduro's inner circle Friday.