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Title : Russia Wants To Know Why Venezuela Is Behind It's Debt Payments
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Russia Wants To Know Why Venezuela Is Behind It's Debt Payments

Rosneft Chief Executive Igor Sechin attends the talks of Russian President Vladimir Putin with South Korean President Moon Jae-in at the Kremlin in Moscow, Russia June 22, 2018. REUTERS/Sergei Karpukhin/File Photo

Reuters: Exclusive: Rosneft's Sechin flies to Venezuela, rebukes Maduro over oil shipments

WASHINGTON/MEXICO CITY (Reuters) - The head of Russian oil company Rosneft (ROSN.MM), Igor Sechin, flew to Caracas this week to meet Venezuelan President Nicolas Maduro and complain over delayed oil shipments designed to repay loans, two sources briefed on the conversation said on Saturday.

The visit, which was not publicly disclosed, is one of the clearest signs of strain between crisis-stricken Venezuela and its key financier Russia.

Over the last few years, Moscow has become Venezuela’s lender of last resort, with the Russian government and Rosneft handing Venezuela at least $17 billion in loans and credit lines since 2006, according to Reuters calculations.

State oil company PDVSA is repaying almost all of those debts with oil, but a meltdown in its oil industry has left it struggling to fulfill obligations.

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WNU editor: I cannot say that I am surprised. Venezuela is broke, and will never be able to pay its debts with the current regime in power in Caracus.

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