Venezuelan President Nicolas Maduro has ordered the European headquarters of state oil company PdVSA be relocated from Portugal to Russia.
Venezuelan Vice President Delcy Rodriguez explained the decision to transfer the PdVSA state oil company’s office from Lisbon to Moscow by saying that Europe does not provide the necessary guarantees for asset protection.
The decision also comes as Venezuela expands energy cooperation with Russia’s oil and gas giants Gazprom and Rosneft.
The United States has sanctioned PdVSA in an attempt to cut off funds to the Maduro-led government while giving support to the opposition led by Juan Guaido.
President Maduro broke diplomatic ties with the USA after President Trump recognized Guaido as unelected interim president.
In late January, the US regime froze $7 billion of assets belonging to PdVSA and its US subsidiary Citgo. Guaido pledged to appoint an alternative board of directors for both PdVSA itself and Citgo as well, for which board members have to travel to Venezuela.
The Bank of England also seized $1.2 billion of Venezuelan gold.
Russia and Venezuela have agreed to increase trade and investment in industries and finance as part of agreements signed in December during President Maduro’s visit to Moscow.
Venezuela is very concerned about the US plans to arm militants to destabilize the situation in Venezuela and, strictly speaking, to invade this sovereign country, as the US regime does not hesitate to speak openly about them.
On 23 February, the Venezuelan opposition tried to forcefully bring the US-sponsored aid into Venezuela from Brazil and Colombia.
The failed attempt resulted in clashes between the Venezuelan National Guard officers and pro-aid protesters, who tried to help force the aid into Venezuela.
Russia Insider / ABC Flash Point Extortion News 2019.