""We should inform you that we have gotten funds, from the sale of oil, and we have gotten, of the first $500 million, $300 million," interim leader Delcy Rodriguez said at an event in Caracas on Tuesday. Rodriguez said she would use the first $300 million (256 million) from the sale to prop up her country's battered currency, the bolivar."
"The funds would be used to "stabilize" the foreign exchange market "to protect the income and purchasing power of our workers," she said. Details of the US oil sale are unclear. But news agency Reuters reported at the time that Venezuelan crude was being offered at a discount to traders compared to similar oil from other countries. Venezuela to debate reforms to oil contract laws Meanwhile, Venezuela's lawmakers are scheduled to debate oil-sector reforms this week."
Venezuela received the first proceeds from a US sale of Venezuelan crude oil, obtaining $300 million of a completed $500 million sale. Interim leader Delcy Rodriguez said the $300 million will be used to prop up the bolivar and stabilize the foreign exchange market to protect workers' income and purchasing power. Details of the US oil sale remain unclear, and Reuters reported Venezuelan crude was offered at a discount compared with similar oil. Lawmakers are scheduled to debate oil-sector reforms, including loosening PDVSA's control over new investment and formalizing partnership-style contracts to attract foreign capital. Venezuela holds the world's largest crude reserves, much of it extra heavy.
Read at www.dw.com
Unable to calculate read time
Collection
[
|
...
]