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RUSSIAN BANK, GAZPROMBANK FREEZES THE ACCOUNTS OF PDVSA (VENEZUELAN STATE OIL COMPANY).

RUSSIAN BANK, GAZPROMBANK FREEZES THE ACCOUNTS OF PDVSA (VENEZUELAN STATE OIL COMPANY).

Our (Viewers Corner News) correspondent learned that the bank accounts of Venezuelan state oil company Petróleos de Venezuela, S.A. (PDVSA) have been frozen by Russian bank Gazprombank. The bank (Gazprombank) also halted transactions with the oil firm so as to avoid the risk of the bank falling under United States sanctions which would harm their business. Since U.S sanctions were imposed on Venezuelan state oil firm (PDVSA), many foreign companies have stopped having transactions with the oil firm. The U.S sanctions imposed on 28 January, 2019 on PDVSA was to block president Nicolas Maduro’s access to the Venezuela’s oil revenue.

Source: Viewers Corner News.

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