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2018-01-08 19:20:00

U.S. - VENEZUELA SANCTIONS

U.S. - VENEZUELA SANCTIONS

U.S.DT - The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) designated four current or former Venezuelan government officials associated with corruption and repression in Venezuela.

"President Maduro and his inner circle continue to put their own interests above those of the Venezuelan people," said Treasury Secretary Steven T. Mnuchin. "This action underscores the United States' resolve to hold Maduro and others engaged in corruption in Venezuela accountable. We call on concerned parties and international partners around the world to join us as we stand with the Venezuelan people to further isolate this oppressive regime."

These designations, all against senior military officers, highlight that corruption and repression continue to flourish under the Maduro regime, both by those in current government positions and former officials who continue to benefit from a corrupt system, even as Venezuela's citizens, economy, and constitutionally enshrined democratic institutions languish. Most recently, following mayoral elections in which his United Socialist Party of Venezuela all but swept a largely uncontested field, Venezuelan President Nicolas Maduro threatened to ban political parties that boycotted the elections from future involvement in the political process. Venezuela's illegitimate Constituent Assembly subsequently issued a decree that made good on the threat and effectively stripped three of Venezuela's influential opposition parties of their right to participate in next year's presidential election. Through their own continuing actions, the four officials designated today have forsaken the professional republican mission of the military institution, which, per Venezuela's 1999 Constitution, is to be "with no political orientation ... and in no case at the service of any person or political partisanship."

As a result of today's actions, all assets of the following current or former officials of the Government of Venezuela that are subject to U.S. jurisdiction are frozen, and U.S. persons are generally prohibited from dealing with them.

Rodolfo Clemente Marco Torres is the Governor of Aragua State and is an External Director on the Board of Directors of Petróleos de Venezuela, S.A. (PdVSA). Marco Torres previously held the positions of Minister of Economy and Finances, President of the Bank of Venezuela, and Minister of Food, and is a retired General from the National Bolivarian Armed Forces. Marco Torres has been allegedly linked to corruption schemes related to food imports, which are controlled by the Venezuelan military.

Francisco Jose Rangel Gomez is a former Governor of Bolivar State and is retired from the National Army, with the rank of Division General. Rangel Gomez has been linked to corruption activities, such as strengthening armed gangs operating in Bolivar and pressuring courts to release gang members that are apprehended, during his time as Governor. Rangel Gomez has also been linked to networks of allegedly corrupt military officials.

Fabio Enrique Zavarse Pabon, Division General of the Bolivarian National Guard, is the Commander of the Capital Integral Defense Operational Zone of the National Armed Forces and also directed the Bolivarian National Guard Forces in the Capital District of Venezuela. Zavarse Pabon is allegedly responsible for acts of repression by members of the Bolivarian National Guard against street protestors in Venezuela.

Gerardo Jose Izquierdo Torres, Major General of the Army, is the State Minister for the New Border of Peace and the Executive Secretary of the Presidential Border Commission. He has allegedly used his positions to profit from corruption at the expense of the Venezuelan people.

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Earlier:

 RUSSIA - VENEZUELA RESTRUCTURING $3 BLN
2017, November, 17, 19:45:00

RUSSIA - VENEZUELA RESTRUCTURING $3 BLN

FT - Russia has come to the aid of Venezuela with a deal to restructure $3.15bn of sovereign debt, allowing Caracas to meet obligations to other creditors and underlining Moscow’s role as the crisis-hit country’s main foreign backer.

 

 VENEZUELA'S SELECTIVE DEFAULT
2017, November, 14, 17:55:00

VENEZUELA'S SELECTIVE DEFAULT

REUTERS - Further complicating the situation, S&P Global Ratings declared Venezuela in selective default after it failed to make coupon payments on bonds due in 2019 and 2024 within a 30-day grace period. The agency warned there was a strong chance it would miss further payments within three months.

 

 VENEZUELA'S OIL PRODUCTION DOWN
2017, November, 13, 10:25:00

VENEZUELA'S OIL PRODUCTION DOWN

Output is expected to slump to 1.84 million barrels a day next year, the lowest compared with official government data since 1989.

 

 VERY IMPORTANT VENEZUELA
2017, November, 7, 12:15:00

VERY IMPORTANT VENEZUELA

The step to restructure debt comes as Venezuela stands to receive more revenue for its oil. The country’s crude oil basket price rose to CNY350.75 ($52.90) a barrel Friday, the highest since July 2015. And Venezuela did approve a $1.1 billion principal payment on a PDVSA bond on Thursday.

 

 RUSSIA - CHINA - VENEZUELA OIL
2017, September, 18, 12:30:00

RUSSIA - CHINA - VENEZUELA OIL

“The principal risk regarding Russian and Chinese activities in Venezuela in the near term is that they will exploit the unfolding crisis, including the effect of US sanctions, to deepen their control over Venezuela’s resources, and their [financial] leverage over the country as an anti-US political and military partner,” observed R. Evan Ellis, a senior associate in the Center for Strategic and International Studies’ Americas Program.

 

 VENEZUELA'S RESTRUCTURING
2017, September, 11, 12:25:00

VENEZUELA'S RESTRUCTURING

“There was a request from our colleagues in Venezuela to carry out a restructuring,” Russian finance minister Anton Siluanov said. “There are difficulties in fulfilling the debt.”

 

 U.S. - RUSSIA BLOCK IN VENEZUELA
2017, September, 4, 12:10:00

U.S. - RUSSIA BLOCK IN VENEZUELA

The Trump administration is ready to block a Russian state-owned oil giant from gaining control of critical energy assets in the U.S. owned by Venezuela, senior American officials say, a move that likely would feed tensions between Washington and Moscow.

 

 

Tags: USA, VENEZUELA, SANCTIONS

Chronicle:

U.S. - VENEZUELA SANCTIONS
2018, January, 22, 08:20:00

RUSSIAN NUCLEAR POWER - 2017

WNA - Apart from adding capacity, utilisation of existing plants has improved markedly since 2000. In the 1990s capacity factors averaged around 60%, but they have steadily improved since and in 2010, 2011 and 2014 were above 81%. Balakovo was the best plant in 2011 with 92.5%, and again in 2014 with 85.1%.

U.S. - VENEZUELA SANCTIONS
2018, January, 22, 08:15:00

INDIA'S NUCLEAR POWER - 2017

WNA - India has a flourishing and largely indigenous nuclear power programme and expects to have 14.6 GWe nuclear capacity on line by 2024 and 63 GWe by 2032. It aims to supply 25% of electricity from nuclear power by 2050.

U.S. - VENEZUELA SANCTIONS
2018, January, 22, 08:10:00

CHINA'S NUCLEAR POWER - 2017

WNA - Mainland China has 38 nuclear power reactors in operation, about 20 under construction, and more about to start construction. The reactors under construction include some of the world's most advanced, to give a 70% increase of nuclear capacity to 58 GWe by 2020-21. Plans are for up to 150 GWe by 2030, and much more by 2050.

U.S. - VENEZUELA SANCTIONS
2018, January, 22, 08:05:00

U.S. - RUSSIA'S NUCLEAR

PLATTS - "The domestic uranium mining industry needs US government assistance to survive the foreign onslaught -- particularly from Russia and Kazakhstan -- that has undermined the US uranium industry while new players -- particularly China -- will soon make the situation worse," Energy Fuels and Ur-Energy said in a petition they jointly filed with the department.

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