Venezuelan banks will get $300 million of oil money to sell on exchange market, sources say

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FastLane

Verified User
  • Venezuelan firms to use dollars to buy raw materials
  • US says it has sold first $500 million of Venezuelan oil
  • Bolivar weakened 83% last year, boosting local prices
Jan 16 (Reuters) - Four Venezuelan banks were notified this week by the country's government that they will split $300 million of oil revenues ‌deposited in an account in Qatar, enabling them to sell dollars to Venezuelan companies that need foreign exchange to pay for materials, two financial sources and an analyst said.
The injection of foreign capital comes after weeks of tightening supplies of dollars, as the U.S. seized Venezuelan oil tankers and hit the country's top revenue flow....

The U.S. said this week it had completed the first $500 million in sales of Venezuelan oil, part of a $2 billion agreement reached this month following the ouster of President Nicolas Maduro and swearing in ⁠of interim leader Rodriguez. U.S. President Donald Trump's administration has said Venezuela will sell between 30 million and ‍50 million barrels.....

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The Venezuelan people will start recovering the benefits of their oil now that Maduro is in jail..
 
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FastLane said:
  • Venezuelan firms to use dollars to buy raw materials
  • US says it has sold first $500 million of Venezuelan oil
  • Bolivar weakened 83% last year, boosting local prices
Jan 16 (Reuters) - Four Venezuelan banks were notified this week by the country's government that they will split $300 million of oil revenues ‌deposited in an account in Qatar, enabling them to sell dollars to Venezuelan companies that need foreign exchange to pay for materials, two financial sources and an analyst said.
The injection of foreign capital comes after weeks of tightening supplies of dollars, as the U.S. seized Venezuelan oil tankers and hit the country's top revenue flow....

The U.S. said this week it had completed the first $500 million in sales of Venezuelan oil, part of a $2 billion agreement reached this month following the ouster of President Nicolas Maduro and swearing in ⁠of interim leader Rodriguez. U.S. President Donald Trump's administration has said Venezuela will sell between 30 million and ‍50 million barrels.....

===============================================...

The Venezuelan people will start recovering the benefits of their oil now that Maduro is in jail..
Click to expand...
Where did thew other $200 million go?

Who was the oil sold to?
 
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